General Motors Q3 Earnings: Revenue And EPS Beat, Raises Annual Profit Outlook On Growing Consumer Demand

General Motors Company (NYSE:GM) shares are trading higher on Tuesday after the company reported its third-quarter results.

Quarterly adjusted earnings per share of $2.96 beats the street view of $2.43.

Quarterly sales of $48.757 billion (+10.5%) beat the analyst consensus estimate of $44.585 billion.

Adjusted EBIT for the quarter improved by 15.5% to $4.115 billion, with an adjusted EBIT margin of 8.4%, up by 30 bps. Net income margin was 6.3% versus 6.9% a year ago.

General Motors exited the quarter with cash and equivalents worth $23.7 billion and had marketable debt securities of $8.5 billion. Inventories as of quarter-end totaled $17.33 billion.

Adjusted automotive free cash flow ...