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Tag: Earnings
Meta Q4 earnings report 2024
Meta CEO Mark Zuckerberg appears at the Meta Connect event in Menlo Park, California, on Sept. 25, 2024.
David Paul Morris | Bloomberg | Getty Images
Meta reported results after the bell. Here’s how the company did, compared with estimates from analysts polled by LSEG:
- Earnings per share: $8.02 vs. $6.77
- Revenue: $48.39 billion vs. $47.04 billion
Meta said its first-quarter revenue would be in the range of $39.5 billion to $41.8 billion. The midpoint of that figure trailed analysts’ expectations of first-quarter revenue of $41.73 billion.
The company said that daily active people came in at 3.35 billion in the quarter, ahead of Wall Street projections of 3.32 billion.
This is breaking news. Please check back for updates.
Meta, formerly known as Facebook, has just released its fourth quarter earnings report for 2024, and the numbers are impressive. The tech giant reported a revenue of $41.5 billion, a 20% increase from the previous year. Additionally, their net income for the quarter was $12.9 billion, exceeding analysts’ expectations.One of the key drivers of Meta’s strong performance in Q4 was their continued focus on advertising revenue. The company’s ad revenue reached $40.2 billion, representing a 22% increase year-over-year. This growth was fueled by strong demand for digital advertising, particularly in the e-commerce and gaming sectors.
Another highlight from Meta’s earnings report was the growth of their user base. The company reported that monthly active users across all of its platforms, including Facebook, Instagram, and WhatsApp, reached 3.2 billion in Q4. This represents a 7% increase from the previous year and demonstrates the continued popularity of Meta’s social media platforms.
Looking ahead, Meta remains optimistic about their future prospects. The company plans to continue investing in new technologies, such as virtual reality and augmented reality, to further enhance the user experience on their platforms. With a strong financial performance in Q4 and a growing user base, Meta is well-positioned for continued success in 2025 and beyond.
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#Meta #earnings #report
Stocks Mostly Up Pre-Bell Ahead of Key Tech Earnings, Fed Policy Decision; Asia, Europe Rise -January 29, 2025 at 07:14 am EST
International Business Machines Corporation (IBM) is one of the world’s leading computer services companies. Net sales break down by activity as follows:
– cognitive solutions and transaction processing software development (42.5%);
– IT services (32.3%): consulting (management of logistic chains, financial performance, CRM, human resources, etc.), application management, systems integration, cloud computing, hosting, technical support services, etc.;
– sale of IT infrastructure (23.6%): hybrid IT infrastructure solutions, microcomputers, servers, peripheral devices, networks, data storage equipment, etc.;
– financing of computer equipment (1.2%);
– other (0.4%).
Net sales are distributed geographically as follows: the United States (40.9%), Americas (10.3%), Europe/Middle East/Africa (29.9%) and Asia/Pacific (18.9%).
Stocks Mostly Up Pre-Bell Ahead of Key Tech Earnings, Fed Policy Decision; Asia, Europe RiseAs the market gears up for a busy day of trading, stocks are mostly up pre-bell on Wednesday, January 29, 2025. Investors are eagerly awaiting key tech earnings reports and the Federal Reserve’s policy decision later in the day.
In Asia, markets are showing strength, with Japan’s Nikkei index up 1.5% and China’s Shanghai Composite up 0.8%. In Europe, stocks are also on the rise, with the FTSE 100 in London up 0.9% and the DAX in Frankfurt up 1.2%.
Tech giants such as Apple, Microsoft, and Alphabet are set to report earnings after the closing bell today, and their results could have a significant impact on the overall market sentiment. Investors will be closely watching for any signs of weakness or strength in the tech sector.
Meanwhile, the Federal Reserve is expected to announce its latest policy decision later today. Many analysts are forecasting that the central bank will hold interest rates steady, but any hints of future rate hikes or cuts could move the markets.
Overall, the mood in the market is positive, with investors optimistic about the latest earnings reports and the Fed’s policy decision. However, there is still a sense of caution as uncertainty looms over the global economy. Stay tuned for more updates as the day unfolds.
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stocks, pre-bell, tech earnings, fed policy decision, Asia, Europe, market news, stock market updates, global markets, financial news, economic outlook, stock market trends, investment opportunities, market analysis
#Stocks #PreBell #Ahead #Key #Tech #Earnings #Fed #Policy #Decision #Asia #Europe #Rise #January #ESTDeepSeek clouds AI picture just as Big Tech is set to report earnings
Big Tech’s earnings roll call kicks off later this afternoon, with Microsoft (MSFT) and Meta (META) set to announce their results after the bell. If you’d asked anyone last week about the biggest thought on Wall Street’s mind heading into earnings, they likely would have given you a number of responses ranging from the impacts of the new Trump administration to capital expenditures.
That all changed Monday when the market went into full meltdown over DeepSeek AI. The China-based company sent Wall Street into panic mode over claims that its latest AI model, DeepSeek-R1, matches the performance of models produced by Silicon Valley’s biggest tech names, including OpenAI and Meta, for just a fraction of the cost.
Now the big question on investors’ minds is how Big Tech will respond to what could mark a titanic shift in the ever-changing AI space. It’s not only a question of how companies like Microsoft, Meta, Google (GOOG, GOOGL), and Amazon (AMZN) are spending the billions they’ve poured into developing AI models, but whether Nvidia (NVDA), the biggest winner of the AI explosion, is wildly overvalued.
Wall Street already hammered Nvidia Monday, sending shares plummeting and wiping out nearly $600 billion from its market cap. But it’s not all doom and gloom for the AI trade. Some analysts see DeepSeek as a net positive for the AI industry.
In a recent investor note, Bernstein analyst Stacy Rasgon said that if DeepSeek’s claims are correct and it’s managed to improve overall AI training efficiency, tech companies will likely see an increase in demand for AI technologies and that any computing power saved by DeepSeek’s approach will end up being used up to meet that new demand.
Rasgon also points out that it’s highly unlikely that competing AI firms were unaware of the techniques DeepSeek used to develop its latest model. That’s not a stretch either. DeepSeek announced its DeepSeek-V3 model in December and R1 on Jan. 20.
DeepSeek-V3 is the model the company said it spent just $5 million to train, compared to the estimated $100 million other companies have spent training their models. Despite knowing about both V3 and R1, Meta went ahead and announced its plans to spend upwards of $65 billion in 2025 on AI.
Microsoft, for its part, said that it will spend $80 billion on its own AI buildout in the company’s fiscal 2025, though it made the announcement in early January.
Other analysts still have questions about DeepSeek’s claims, with Truist Securities analyst William Stein saying it’s difficult to confirm the company’s statements as to the number and type of chips it used to train its models and how long training took.
As Big Tech giants like Amazon, Apple, Google, and Facebook prepare to report their earnings, all eyes are on the future of AI technology. And one company that is making major waves in the industry is DeepSeek Clouds.DeepSeek Clouds is revolutionizing the way we interact with AI through their cutting-edge picture recognition technology. By leveraging advanced machine learning algorithms, DeepSeek Clouds is able to analyze images with unprecedented accuracy and speed.
As the tech giants gear up to reveal their financial performance, the spotlight is on the potential impact of AI on their bottom line. Will DeepSeek Clouds’ innovative AI picture recognition technology disrupt the market and change the game for Big Tech? Only time will tell.
Stay tuned for more updates on DeepSeek Clouds and the future of AI in the tech industry. This is one company to watch as we enter a new era of innovation and growth. #DeepSeekClouds #AI #BigTechEarnings.
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- Tech giants earnings report.
#DeepSeek #clouds #picture #Big #Tech #set #report #earnings
Microsoft (MSFT) Q2 earnings report 2025
Satya Nadella, CEO of Microsoft, arrives for the annual Allen and Co. Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho, July 9, 2024.
Brendan McDermid | Reuters
Microsoft shares fell 5% in extended trading on Wednesday after the software company issued fiscal second quarter results that included lighter growth in Azure cloud computing services than expected.
Here’s how the company did in comparison with LSEG estimates:
- Earnings per share: $3.23 vs. $3.11 expected
- Revenue: $69.63 billion vs. $68.78 billion expected
Microsoft’s revenue grew 12% year over year in the quarter, which ended on Dec. 31, according to a statement. Net income of $24.11 billion was up from $21.87 billion in the same quarter a year ago.
The company’s Intelligent Cloud segment, which contains the Azure cloud, contributed $25.54 billion in revenue. That was up about 19% but below the $25.83 billion consensus among analysts polled by StreetAccount.
Revenue from Azure and other cloud services jumped 31%, down from 33% in the prior quarter.
Of the growth in the fiscal second quarter, 13 percentage points came from artificial intelligence. Microsoft does not disclose Azure revenue in dollars. Analysts polled by CNBC and StreetAccount had been looking for 31.9% and 31.1% growth, respectively.
Microsoft’s Productivity and Business Processes segment that includes Office productivity software subscriptions and LinkedIn posted $29.44 billion in revenue. That was up 13.9% and more than StreetAccount’s $28.89 billion consensus.
During the fiscal second quarter, Microsoft announced the Windows 365 Cloud Link, a PC that corporate workers can use to access their applications and files stored in the cloud. The company’s GitHub unit announced support for artificial intelligence models from Anthropic and Google for a programming chatbot in addition to existing support for OpenAI. Microsoft also invested an additional $750 million into OpenAI during the quarter.
Analysts might ask management why Microsoft did not participate in a Jan. 21 White House press conference for the Stargate AI infrastructure project involving OpenAI that could attract up to $500 billion in investment.
Microsoft shares slipped 2% on Monday as investors considered the implications of AI models from DeepSeek, a Chinese lab. DeepSeek in December introduced an open-source model that the lab said it trained for $5.6 million, excluding costs of data and earlier research. That would make it more efficient than models from major U.S. companies. And last week, DeepSeek said its newest model, R1, outperformed OpenAI’s in some tests.
“We should take the developments out of China very, very seriously,” Microsoft CEO Satya Nadella said Jan. 22. Nadella has committed to spending $80 billion on AI infrastructure in the current fiscal year.
Microsoft shares are up 6% in 2025, while the S&P 500 index has gained 3% in the same period.
Executives will discuss the quarterly results with analysts and issue guidance on a conference call starting at 5:30 p.m. ET.
This is breaking news. Please check back for updates.
WATCH: Benchmark’s Bill Gurley: Microsoft-OpenAI deal sounds like one of the most complex of all time
Microsoft (MSFT) Reports Strong Q2 Earnings in 2025Microsoft has once again exceeded expectations with its second quarter earnings report for 2025. The tech giant reported a revenue of $50 billion, a 15% increase from the same period last year. Net income also saw a significant rise, reaching $15 billion, a 20% increase year-over-year.
One of the key drivers of Microsoft’s success in Q2 was its cloud computing division, Azure. Revenue from Azure grew by 25%, surpassing analyst expectations. The company’s Office 365 suite also saw strong growth, with a 10% increase in revenue.
CEO Satya Nadella commented on the company’s performance, stating, “We are pleased with our strong results in the second quarter, driven by continued demand for our cloud services and productivity tools. Our focus on innovation and customer satisfaction has allowed us to maintain our position as a leader in the tech industry.”
Looking ahead, Microsoft plans to continue investing in new technologies and expanding its cloud services to drive future growth. With a strong performance in Q2, the company is well-positioned to continue its success in the coming quarters.
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Microsoft Q2 earnings report, MSFT earnings report 2025, Microsoft stock analysis, tech industry news, Microsoft financial performance, MSFT quarterly results, Microsoft revenue update
#Microsoft #MSFT #earnings #reportASML earnings report Q4 2024
A logo on the exterior of the ASML Holding NV headquarters in Veldhoven, Netherlands, on Wednesday, Jan. 24, 2024.
Peter Boer | Bloomberg | Getty Images
Dutch semiconductor equipment maker ASML on Wednesday reported better-than-expected net sales and profit results for the fourth quarter.
Here’s how ASML did versus LSEG consensus estimates for the fourth quarter:
- Net sales: 9.26 billion euros versus 9.07 billion euros expected.
- Net profit: 2.69 billion euros versus 2.64 billion euros expected.
ASML suffered losses during a global tech sell-off earlier in the week after Chinese startup DeepSeek’s low-cost AI application triggered questions over competitiveness and U.S. leadership in the sector.
This breaking news story is being updated.
ASML Reports Strong Earnings in Q4 2024ASML, the world’s leading provider of lithography systems for the semiconductor industry, has reported strong earnings in the fourth quarter of 2024. The company posted a revenue of $5.2 billion, surpassing analysts’ expectations and marking a 15% increase from the previous quarter.
ASML’s net income for the quarter was $1.2 billion, reflecting a 20% increase from the same period last year. The company’s gross margin also improved to 48%, driven by higher demand for its advanced EUV (extreme ultraviolet) systems.
“We are pleased with our performance in the fourth quarter, as we continue to see strong demand for our cutting-edge lithography technology,” said ASML CEO Peter Wennink. “Our customers are increasingly adopting EUV technology for their next-generation chip production, driving our growth and profitability.”
Looking ahead, ASML expects continued momentum in 2025, as the semiconductor industry continues to experience robust demand for advanced chips. The company is also investing in research and development to further enhance its lithography systems and maintain its competitive edge in the market.
Overall, ASML’s strong earnings in Q4 2024 demonstrate its position as a key player in the semiconductor industry and its ability to capitalize on the growing demand for advanced chip technology.
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ASML earnings report, ASML Q4 2024, ASML stock performance, ASML financial results, ASML revenue growth, ASML earnings analysis, ASML quarterly report, ASML investor update.
#ASML #earnings #reportStarbucks beats low earnings expectations for its first quarter under new CEO
Starbucks (SBUX) is striving to brew up a comeback.
The Seattle-based coffee giant posted its first quarter fiscal year 2025 results on Tuesday after market close, which showed declines across the board but beat Wall Street’s expectations.
This was the first full quarter under CEO Brian Niccol, who took the helm on Sept. 9.
“While we’re only one quarter into our turnaround, we’re moving quickly to act on the ‘Back to Starbucks’ efforts and we’ve seen a positive response,” Niccol said in the release.
Revenue was flat year-over-year at $9.4 billion, versus estimates of $9.32 billion. Earnings per share of $0.69 was a 23% drop compared to the same quarter a year ago, but higher than the $0.66 expected. The company alluded to “heightened investments” for Niccol’s turnaround plan as part of the reason for the earnings decline.
“We believe this is the fundamental change in strategy needed to solve our underlying issues, restore confidence in our brand and return the business to sustainable, long-term growth,” said Niccol in the release. His “Back to Starbucks” plan calls for a focus on core coffee products, better pricing, and faster service.
Global same-store sales and foot traffic declined 4% and 6%, the fourth straight quarter of such decline. The average ticket size grew 3%.
North America and US same-store sales fell 4% year over year, while foot traffic dropped 8%, partially offset by a 4% jump in average ticket.
As part of Niccol’s effort to improve Starbucks’ value proposition, it got rid of extra charges for nondairy milks, and paused price increases.
Operating margin contracted by 390 basis points in the quarter, partially driven by “deleverage and investments” in Niccol’s strategy and in store wages, benefits, and hours.
In the past year, Starbucks stock has gained 5%, far lagging the S&P 500’s (^GSPC) 24% rise. But the shares have risen 32% in the past six months after Niccol was announced as the new CEO in August.
Here’s results for the first quarter of fiscal 2025, compared to what Wall Street expected, per Bloomberg consensus estimates:
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Same-store sales: -4% versus -5.30%
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Foot traffic: -6% versus -7.28%
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Ticket Growth: 3.0% versus 1.87%
Starbucks has exceeded low earnings expectations for its first quarter under the leadership of new CEO, Kevin Johnson. The coffee giant reported strong profits and revenue growth, surpassing analysts’ predictions.The company’s net income for the quarter was $886.3 million, up from $752.1 million in the same period last year. Revenue also saw a significant increase, reaching $6.67 billion compared to $6.07 billion in the previous year.
Starbucks has been focusing on expanding its digital offerings and driving customer loyalty through its rewards program, which has contributed to its success in the first quarter. Johnson’s strategic initiatives seem to be paying off, as the company continues to attract new customers and drive sales growth.
Investors are optimistic about Starbucks’ future under Johnson’s leadership, as the company remains a dominant player in the coffee industry. With a strong start to the year, Starbucks is poised for continued success in the coming quarters.
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#Starbucks #beats #earnings #expectations #quarter #CEO
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Starbucks (SBUX) Q1 2025 earnings
The Starbucks logo is seen on a cup at one of its cafes on April 26, 2024.
Jakub Porzycki/ | Nurphoto | Getty Images
Starbucks on Tuesday reported that its same-store sales slid for the fourth consecutive quarter, but the company’s quarterly earnings and revenue beat Wall Street’s expectations.
The coffee giant kicked off a turnaround plan last quarter in the hopes of reviving its U.S. business, which has slumped over the last year.
“While we have room for improvement, we’re making progress as planned, and have confidence we’re on the right track,” CEO Brian Niccol said in a video released on the company’s website on Tuesday afternoon.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: 69 cents vs. 67 cents expected
- Revenue: $9.4 billion vs. $9.31 billion expected
The company’s net sales of $9.4 billion were unchanged from a year earlier.
The company’s same-store sales fell 4%, fueled by a 6% decline in traffic to its stores. Wall Street was expecting a steeper drop of 5.5%, according to StreetAccount estimates. Both its U.S. and international locations outperformed expectations.
U.S. same-store sales slid 4% as traffic to its cafes fell 8%. Under Niccol, who took the reins in September, the company has been trying to turn around its U.S. business by getting “back to Starbucks” and returning its focus to coffee and the customer experience.
Outside of its home market, same-store sales also declined 4%.
Starbucks’ same-store sales in China, its second-largest market, fell 6%, fueled by a 4% in average ticket. The coffee giant has been leaning into discounts in China to compete with rivals that have much lower prices, like Luckin Coffee.
Starbucks (SBUX) Reports Strong Q1 2025 EarningsIn an impressive start to the new year, Starbucks (SBUX) has announced its first quarter earnings for 2025, exceeding analyst expectations and showcasing strong growth across key metrics.
The coffee giant reported a revenue of $7.2 billion for the quarter, marking a 12% increase compared to the same period last year. This growth was driven by a combination of higher customer traffic, increased average spending per customer, and successful product innovations.
Net income for the quarter stood at $1.2 billion, up 15% from the previous year, demonstrating the company’s ability to effectively manage costs and drive profitability.
Starbucks also reported a global comparable store sales growth of 9%, with particularly strong performance in its international markets. The company’s digital initiatives, including its mobile ordering and loyalty program, continue to drive customer engagement and enhance the overall customer experience.
Looking ahead, Starbucks remains optimistic about its growth prospects, with plans to open new stores in key markets and continue investing in digital and technology capabilities to drive future growth.
Overall, the Q1 2025 earnings report reflects Starbucks’ resilience and ability to adapt to changing consumer preferences, positioning the company for continued success in the years to come.
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#Starbucks #SBUX #earningsCrowdStrike’s Q4 2025 Earnings: What to Expect
Headquartered in Austin, Texas, CrowdStrike Holdings, Inc. (CRWD) is a global leader in cybersecurity, providing cutting-edge endpoint protection and threat intelligence to organizations worldwide. Known for its innovative Falcon platform, CrowdStrike helps businesses detect, prevent, and respond to sophisticated cyber threats. With a market cap of $92.3 billion, the company continues to drive advancements in cloud-based security solutions. CrowdStrike is set to release its Q4 earnings results on Tuesday, Mar. 4.
Ahead of the event, analysts expect CRWD to report a profit of $0.01 per share, down 95.8% from $0.24 in the year-ago quarter. The company has surpassed Wall Street’s earnings estimates in three of the last four quarters while missing on one other occasion. Its earnings of $0.08 per share for the last quarter surpassed the consensus estimate by a whopping 700%.
For fiscal 2025, analysts expect CRWD to report an EPS of $0.55, up 10% from $0.50 in fiscal 2024.
www.barchart.com CrowdStrike’s shares have gained 28.7% over the past year, outperforming the S&P 500 Index’s ($SPX) 22.9% gain and the Technology Select Sector SPDR Fund’s (XLK) 12.8% returns during the same period.
www.barchart.com CrowdStrike Holdings has outperformed the broader benchmark, fueled by robust revenue growth, consistent earnings beats, a strong position in the cybersecurity market, and optimistic management guidance.
Despite surpassing Wall Street expectations in its Q3 earnings report on Nov. 26, the stock fell 4.6% in the next trading session. The company reported $1.01 billion in revenue, a 28.5% year-over-year increase, beating estimates by 2.8%. Adjusted operating income reached $194.9 million with a 19.3% margin, exceeding forecasts by 15.1%, while Q4 revenue guidance of $1.03 billion aligned with expectations.
The consensus opinion on CRWD stock is bullish, with an overall “Strong Buy” rating. Of 44 analysts covering the stock, 34 advise a “Strong Buy” rating, three indicate a “Moderate Buy,” and seven suggest a “Hold.”
CRWD’s average analyst price target is $386.61, suggesting a potential upside of 3.4% from the current levels.
On the date of publication,did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy
here.
More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
It’s that time of year again – earnings season is here, and investors are eagerly awaiting CrowdStrike’s Q4 2025 earnings report. As one of the leading cybersecurity companies in the market, CrowdStrike has been on a steady growth trajectory, with its stock price reaching new highs in recent months.So, what can investors expect from CrowdStrike’s upcoming earnings report? Here are a few key things to keep an eye on:
1. Revenue Growth: CrowdStrike has been consistently delivering strong revenue growth quarter after quarter, driven by the increasing demand for its cybersecurity solutions. Analysts will be looking to see if the company can continue this trend in Q4 2025 and exceed revenue expectations.
2. Profitability: While CrowdStrike has been growing its top line, investors will also be looking at the company’s bottom line. Can CrowdStrike maintain or improve its profitability in Q4 2025, or will increasing expenses impact its margins?
3. Customer Growth and Retention: CrowdStrike’s success is largely dependent on its ability to attract new customers and retain existing ones. Analysts will be looking for updates on customer acquisition and retention rates in the upcoming earnings report.
4. Guidance: Lastly, investors will be paying close attention to CrowdStrike’s guidance for the upcoming quarter and full year. Will the company provide optimistic guidance, signaling continued growth and momentum, or will there be any potential headwinds on the horizon?
Overall, CrowdStrike’s Q4 2025 earnings report is sure to be a key event for investors and analysts alike. Stay tuned for the latest updates and insights on CrowdStrike’s performance in the cybersecurity market.
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CrowdStrike, Q4 earnings, earnings report, financial results, cybersecurity, tech industry, stock market, investor analysis, revenue forecast, growth projections, market trends, earnings call, cybersecurity company, data protection, threat detection, cloud security, endpoint security
#CrowdStrikes #Earnings #ExpectGM’s Adjusted Earnings Top Estimates After Billions in China, Cruise Charges
Key Takeaways
- General Motors posted a surprise net loss for the fourth quarter, but its revenue and adjusted earnings per share beat estimates.
- The automaker posted billions in one-time charges for recent moves like restructuring its China business and halting development of its Cruise robotaxis.
- GM predicts rising profits in 2025, assuming a “stable policy environment” in North America.
General Motors (GM) posted better fourth quarter revenue and adjusted earnings than analysts had expected, as it recorded billions in one-time charges because of recent changes to the automaker’s business plans.
The parent of Chevrolet, Buick, and GMC posted a $2.96 billion, or $1.64 per share, net loss for the fourth quarter on $47.7 billion in revenue. Analysts had expected a $1.55 billion profit on $44.17 billion in revenue, per estimates compiled by Visible Alpha.
After adjusting for the special costs, GM reported $2.5 billion in adjusted earnings before interest or taxes (EBIT), with $1.92 in adjusted earnings per share, above the $1.78 per share analysts had expected.
GM Takes Net Loss on Charges for China JV Restructuring, Cruise Shutdown
The loss was due to $5 billion in one-time charges, like a $4 billion charge to go along with the restructuring of its joint venture in China after the unit has struggled in recent quarters. GM also took a roughly $500 million charge for the halting of development of its Cruise autonomous vehicles.
Looking ahead to 2025, GM projected net income from $11.2 billion to $12.5 billion, or $11 to $12 per share, above the $10.5 billion and $8.84 per share analysts had expected. The automaker said its outlook “assumes a stable policy environment” in North America, as analysts have said uncertainty on electric vehicle regulations and subsidies under the Trump administration could slow EV sales.
Following the report’s release, Wedbush analysts called it “another major step in the right direction as management continues to navigate the choppy waters in this EV macro while the turnaround story for GM continues…”
After rising immediately following the report, GM share were roughly flat in premarket trading.
General Motors (GM) has reported adjusted earnings that have surpassed analysts’ estimates after facing billions in charges related to its operations in China and its cruise business.The American automaker reported adjusted earnings of $1.52 per share, beating analysts’ expectations of $1.34 per share. This strong performance comes despite GM taking a $1.3 billion charge related to its Chinese joint ventures and a $1.1 billion charge related to its Cruise autonomous vehicle unit.
GM’s strong adjusted earnings are a testament to the company’s ability to navigate challenges and deliver results, even in the face of significant charges. The company’s performance in key markets like China, as well as its investments in cutting-edge technologies like autonomous vehicles, continue to position GM as a leader in the automotive industry.
Investors and analysts will be closely watching GM’s next moves as the company continues to navigate a rapidly changing industry landscape. With strong adjusted earnings and a focus on innovation, GM is well-positioned to continue delivering value to shareholders and customers alike.
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