General Motors stock increased by nearly 15 percent on Oct. 21 after the Detroit-based automaker announced its third-quarter results and updated its full-year earnings guidance.
GM reported on Oct. 21 third-quarter revenue of $48.6 billion—down slightly from year-earlier revenue of $48.76 billion—with adjusted earnings per share of $2.80, beating analyst expectations of $2.31 per share.
The company raised its full-year earnings before income tax (EBIT)-adjusted earnings outlook to $12 billion–$13 billion, topping its previously announced guidance of $10 billion–$12.5 billion. It also expects 2026 to be even stronger as it mitigates losses on electric vehicles (EVs) and scales back EV production capacity.
Shares of GM rose by 14.84 percent at the market close, and are up by about 25 percent year to date….