General Motors swung to a loss in the fourth quarter on huge charges related to China, but still topped profit and revenue expectations on Wall Street. Last month GM cautioned that the poor performance of its Chinese joint ventures would force it to write down assets and take a restructuring charge totaling more than $5 billion in the fourth
General Motors stock is moving sharply lower Tuesday even after the automaker reported a fourth-quarter earnings beat. Here's what you need to know.
General Motors swung to a loss in the fourth quarter on huge charges related to China, but still topped profit and revenue expectations on Wall Street.
GM faces China setback but beats expectations, offers generous profit-sharing to workers, and navigates U.S. regulations.
Morgan Stanley analyst Adam Jonas maintained a Hold rating on General Motors (GM – Research Report) yesterday and set a price target of
General Motors Co. in Detroit today reported record 2024 profits of $14.9 billion, up 21 percent over 2023. The automaker did so with $187 billion in revenue last year, a 9 percent increase over year prior.
General Motors is up 4.9% since the beginning of the year, but at $53.90 per share, it is still trading 10.5% below its 52-week high of $60.20 from November 2024.
Last month the vehicle manufacturing giant warned that the poor performance of its Chinese joint ventures would force it to write down assets.
The stock's fall snapped a four-day winning streak.
General Motors swung to a loss in the fourth quarter on an increasingly difficult environment in China, but still topped profit and revenue expectations on Wall Street
The Detroit carmaker is creating a domestic supply base to make EVs cheaper and profitable aided by Kurt Kelty, who landed Tesla’s top battery supplier in its early days.
Inventors punished the automaker's exclusion of uncertainty surrounding potential policy shifts on GM's financial performance.