General Motors Stock Surges on Strong EV Performance and Raised Guidance
General Motors shares accelerated after reporting better-than-expected Q3 earnings, fueled by record electric vehicle sales. The Detroit automaker sold 67,000 EVs in the quarter, capturing 16.5% of the U.S. market and doubling its year-to-date EV sales. GM's Equinox EV now ranks as the best-selling non-Tesla electric model.
The company posted $44.26 billion in revenue, slightly below forecasts, but delivered $2.80 in adjusted EPS versus $2.27 expected. GM raised full-year profit guidance to $12-$13 billion, up from prior estimates of $10-$12.5 billion, with adjusted EPS now projected at $9.75-$10.50.
Investors welcomed GM's assessment that tariff impacts may have peaked, with full-year exposure estimated at $3.5-$4.5 billion. The strong EV performance signals GM is closing the gap with market leader Tesla in the electrification race.
