Company News: General Motors (GM) quarterly results beat analysts’ forecasts

Market news

24 October 2017

Company News: General Motors (GM) quarterly results beat analysts’ forecasts

General Motors (GM) reported Q3 FY 2017 earnings of $1.32 per share (versus $1.72 in Q3 FY 2016), beating analysts' consensus estimate of $1.11.

The company's quarterly revenues amounted to $30.475 bln (-16.6% y/y), beating analysts' consensus estimate of $29.927 bln.

The company reaffirmed guidance for FY2017, projecting EPS at middle of $6.00-6.50 (versus analysts' consensus estimate of $6.16), and revenues generally in-line with 2016. It also announced plans to return $7 bln in buybacks and dividends.

GM rose to $46.99 (+4.08%) in pre-market trading.

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