General Motors (GM) earnings Q4 2022


GM beats expectations on top and bottom line

DETROIT — General Motors handily beat Wall Street’s top- and bottom-line expectations for the fourth quarter, while forecasting another solid year of results in 2023.

The strong report suggests GM is hanging onto record, or near-record, results even as the U.S. automotive industry begins to normalize after several years of record-low inventories and resilient consumer demand.

Shares of GM rallied as much as 9.5% during trading Tuesday before closing at $39.32 a share, up by 8.4%. It was the stock’s best daily performance since Oct. 4. 

Here’s how GM performed to close out last year, compared with analysts’ estimates as compiled by Refinitiv:

  • Adjusted earnings per share: $2.12 vs. $1.69…

Source cnbc.com

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