Breaking: General Motors (GM) reports strong results, Q4 2020 beats expectations but lowers outlook
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CLAIM OFFERUpdate: GM is giving a lower than expected full-year guidance according to CNBC on Wednesday. GM is blaming ongoing global semiconductor shortages. Shares in GM have turned lower, trading at $55.83, down 0.4%.
General Motors (GM) announced strong results on Wednesday. Earnings per share (EPS) of $1.93 versus $1.64 expected. Profit margin was 9.9% as demand for high-end vehicles grew.
GM also said it will invest $7 billion in the electric and autonomous vehicle space in 2021. This is on top of the $27 billion commitment GM has already made to the EV sector by 2025 according to CNBC.
Guidance will be given on the conference call later on Wednesday.
Market Reaction
Shares in GM are trading at $57.29 at the time of writing on Wednesday during pre-market trading. A gain of over 2%.
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Update: GM is giving a lower than expected full-year guidance according to CNBC on Wednesday. GM is blaming ongoing global semiconductor shortages. Shares in GM have turned lower, trading at $55.83, down 0.4%.
General Motors (GM) announced strong results on Wednesday. Earnings per share (EPS) of $1.93 versus $1.64 expected. Profit margin was 9.9% as demand for high-end vehicles grew.
GM also said it will invest $7 billion in the electric and autonomous vehicle space in 2021. This is on top of the $27 billion commitment GM has already made to the EV sector by 2025 according to CNBC.
Guidance will be given on the conference call later on Wednesday.
Market Reaction
Shares in GM are trading at $57.29 at the time of writing on Wednesday during pre-market trading. A gain of over 2%.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
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