UPDATE: GM shares down premarket as revenue miss weighs against profit beat and chip shortage takes its toll

1 month ago 16
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Published: Oct. 27, 2021 astatine 8:29 a.m. ET

General Motors shares reversed aboriginal gains to commercialized down 1.6% successful premarket commercialized Wednesday, aft the institution blew past nett estimates for the 3rd 4th and offered above-consensus guidance for the afloat year, but suffered a gross miss. GM said it had nett income of $2.420 billion, oregon $1.62 a share, successful the quarter, down from $4.045 billion, oregon $2.78 a share, successful the year-earlier period. Adjusted per-share net came to $1.52, good up of the 98 cents FactSet consensus. Revenue fell to $26.779 cardinal from $35.480 cardinal a twelvemonth ago, missing the $30.722 cardinal FactSet consensus. The 4th "was challenging...

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