1/31, 12:32 PM (Source: TeleTrader)
more TeleTrader news

GM tops estimates with Q4 revenue of $43.1B, 28% rise YoY

The General Motors Company (GM) revealed on Tuesday that its revenue in the fourth trimester of fiscal 2022 reached $43.1 billion, coming above market estimates and climbing 28% on a yearly basis.

The automotive giants' net income contributable to shareholders in the foruth quarter stood at $2 billion, up from $1.7 billion recorded in the same period a year prior. Diluted earnings per share came in at $1.39, rising approximately 19.8% year over year, also beating analysts' expectations. Full-year results revealed revenue of $156.7 billion, 23.4% above the sum reported in 2021, while the net income attributable to stockholders arrived at $9.9 billion, slightly down compared to the previous year's result of $10 billion.

General Motors updated its full-year guidance to predicted net income of between $8.7 billion and $10.1 billion and EPS-diluted of between $6.00 and $7.00. After the release, the company's shares soared to 5.4% in premarket trading.

Baha Breaking News (BBN) / MX