General Motors Stock Surges After Big Profit And Revenue Beat

By Tomi KilgoreMarketWatch Pulse

General Motors Co.'s stock ran up 4.2% in premarket trade Wednesday, after the auto maker reported a third-quarter profit and revenue that were well above expectations. Earnings for the quarter ended in September came in at $1.4 billion, or 84 cents a share, compared with $1.4 billion, or 81 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share were $1.50, beating the FactSet consensus of $1.12. Revenue declined to $38.8 billion from $39.3 billion, but was above the FactSet consensus of $37 billion. The company said unfavorable currency moves reduced revenue by $2.3 billion. "These results reflect our work to capitalize on our strengths in the U.S. and China, while taking decisive, proactive steps to mitigate challenges elsewhere," said Chief Executive Mary Barra. The stock has surged 10% over the past three months, but was still down 4.1% year to date, while the S&P 500 has slipped 1.4% this year.

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