General Motors Earnings: Here’s Why Shares are Up Now
General Motors Corporation (NYSE:GM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.88%.
General Motors Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 27.96% to $0.67 in the quarter versus EPS of $0.93 in the year-earlier quarter.
Revenue: Decreased 2.27% to $36.9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: General Motors Corporation reported adjusted EPS income of $0.67 per share. By that measure, the company beat the mean analyst estimate of $0.54. It beat the average revenue estimate of $36.6 billion.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…
Revenue decreased 6.12% from $39.31 billion in the previous quarter. EPS increased 39.58% from $0.48 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.93 to a profit $0.8. For the current year, the average estimate has moved down from a profit of $3.65 to a profit of $3.35 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)