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GM Q4 earnings beat estimates as EV business turns the corner, company boosts 2025 profit guidance

GM Q4 earnings beat estimates as EV business turns the corner, company boosts 2025 profit guidance


Published on 2025-01-28 17:01:05 - MSN
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  • General Motors (GM) continued its strong run of quarterly performance last year, with full-year profit that came in at the high end of its range and upbeat forward guidance. But challenges remain for the US automaker in 2025,

General Motors (GM) reported a robust performance in its Q4 earnings, surpassing Wall Street expectations with adjusted earnings per share of $1.24, compared to the anticipated $1.16. The company's revenue reached $43.0 billion, slightly above the expected $40.6 billion. This positive outcome was driven by a significant improvement in GM's electric vehicle (EV) segment, which saw a 54% increase in sales, totaling 20,000 units in the quarter. Despite challenges like strikes and a recall, GM managed to increase its full-year guidance for 2025, now expecting net income between $9.8 billion and $11.2 billion, and adjusted EBIT between $12 billion and $14 billion. The company also announced plans to produce 200,000 to 300,000 EVs in North America in 2024, signaling a strong commitment to its EV strategy. Additionally, GM's Cruise autonomous vehicle unit is set to resume testing in Phoenix, Arizona, after a suspension, indicating a recovery in its autonomous driving ambitions.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/general/gm-q4-earnings-beat-estimates-as-ev-business-turns-the-corner-company-boosts-2025-profit-guidance/ar-AA1xZVoI ]
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