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General Motors falls 6.8% despite solid results and a US$20 billion buyback plan

FinanceInternationalXTB.com35 s readAI summary
Image: XTB.com

General Motors shares closed Tuesday, October 20, down 6.8%, after falling as much as 9%, despite reporting third-quarter results with adjusted revenue of US$50.015 billion and adjusted EPS of US$3.94. The company raised its adjusted automotive free cash flow guidance to a range of US$11.5 billion to US$12.5 billion, but cut its operating profit forecast due to inflationary pressures on production costs. It also announced a US$20 billion share buyback.

In 35 seconds

  • GM shares fell 6.8% and dropped as much as 9% in the October 20 session.
  • Adjusted quarterly revenue was US$50.015 billion, with adjusted EPS of US$3.94.
  • The company raised its adjusted automotive free cash flow guidance to between US$11.5 billion and US$12.5 billion.
Read the full story at XTB.com

IASummary generated by artificial intelligence from a story by XTB.com. It may contain errors: the original source prevails.

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