GM Stock Reaches Four-Year High After Strong Earnings Report
General Motors (GM) stock has surged to a four-year high after the company released its upbeat earnings report, beating estimates and raising its full-year guidance.
The automaker reported adjusted third-quarter earnings of $2.80 per share on $48.60 billion in revenue, exceeding expectations. GM also reduced the expected impact of tariffs this year to between $3.5 billion and $4.5 billion.
As a result, GM stock is up 12.1% to trade at $65, on track for its best single-session gain since March 2020. The shares have nearly recovered from two-straight weekly losses, with the 80-day moving average containing the damage.
With the stock nearly 20% higher year to date, analyst revisions are expected to follow. The auto stock has filled the gap and reached a four-year high of $65.64.
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Author's summary: GM stock surges to four-year high after strong earnings.