GM - GM Reignites Street Confidence In 'Key Quarter' For Automaker | Benzinga
Following General Motors Co.’s (NYSE:GM) better-than-expected fourth-quarter financial results, Wedbush analyst Dan Ives kept an Overweight rating on the stock, noting that he anticipated renewed Street confidence moving forward.
What To Know: GM reported fourth-quarter revenue of $43 billion Tuesday morning, which beat the consensus estimate of $38.97 billion. The Detroit-based automaker reported adjusted earnings of $1.24 per share, which beat estimates of $1.16 per share.
GM also guided for 2024 adjusted earnings of $8.50 to $9.50 per share versus estimates of $7.83 per share as the company focuses heavily on profitability coming into 2024.
“This was an important quarter to help regain Street confidence that has been shaken the last few quarters with the EV vision in flux and the Cruise black eye over the past few months,” ...