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10/27/2021, 1:32 PM (Source: TeleTrader)
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General Motors revenue plunges to $26.78B in Q3

General Motors Co. said on Wednesday that its third-quarter revenue declined 24.5% to land at $26.78 billion, with net income tumbling 40% to $2.42 billion or diluted earnings per share of $1.62.

"Our third-quarter 2021 results clearly illustrate the strength of the underlying business that is funding our future, especially when you put them in the context of the calendar year... We now believe GM's full-year results will approach the high end of our guidance, which is for EBIT-adjusted in the range of $11.5 billion to $13.5 billion," the shareholder letter noted.

The carmaker's shares soared 3.29% in premarket session following the earnings announcement.

Baha Breaking the News (BBN) / ND