General Motors beats third-quarter estimates and announces $20 billion buyback
GM narrowed its profit outlook, and its stock fell after the company reported third-quarter earnings.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
General Motors reported third-quarter results before the market opened, and the results topped analyst estimates. The company also tightened its profit outlook and unveiled a new $20 billion stock buyback. Despite the earnings beat, GM shares fell after the narrowed guidance.
Why it matters
The narrowed profit outlook is the detail that drove the stock lower after the earnings beat.
Timeline
- Oct 20, 6:30 AM ET: GM posted third-quarter results before the bell that topped estimates, tightened its profit outlook and unveiled a new $20 billion buyback.
- Oct 20, 9:03 AM ET: GM stock fell after the company narrowed its guidance following the third-quarter earnings report.
Coverage
- GM stock falls on narrowed guidance: Q3 earnings breakdown (Yahoo News)
- GM beats on Q3 results, tightens profit outlook, and unveils new $20 billion buyback (Yahoo News)
- General Motors is set to report earnings before the bell. Here's what Wall Street expects (CNBC)
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