General Motors Plunges 6.83% Despite Strong Quarterly Results

After-the-fact Expert

General Motors shares plunged 6.83% despite quarterly revenue of $50.0 billion, net income attributable to stockholders of $3.3 billion, and adjusted EBIT of $4.1 billion. GM also narrowed its full-year adjusted EBIT guidance and announced a new $20 billion share repurchase authorization. The sharp decline put GM among the market’s notable laggards in a mixed session.  For informational and educational purposes only. Not financial advice.  #GeneralMotors #GMStock #Earnings #MarketRecap

Transcript

00:00General Motors plunged 6.83% today, despite strong quarterly results.

00:06Yahoo linked the negative reaction to investors getting a narrower outlook, despite an earnings beat.

00:13General Motors Company, SEC Filing, showed $50.0 billion in revenue, adjusted earnings of $3.70 per share, and a

00:24new $20.0 billion share repurchase authorization.

00:28Why it matters. Strong current results weren't enough when the updated outlook failed to lift expectations.

00:37Consumer discretionary rose 0.90% today, so this move ran against its own sector.

00:45More on GM, full recap linked.

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