General Motors (GM) shares surge🌳d Tuesday after the biggest U.S. carmaker posted 🥀better-than-expected results and raised its profit guidance on steady pricing and cost controls.

The company reported third-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $2.96, with revenue increasing more than 10% to $48.76 billion. ღBoth exceeded consensus estimates of analysts polled by Visible Alpha.

GM also increased the low ends of its full-year 澳洲幸运5官方开奖结果体彩网:net income, adjusted 澳洲幸运5官方开奖结果体彩网:earnings before in൩terest an﷽d taxes (EBIT), and EPS and adjusted EPS guidance.

In a letter to shareholders, 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Mary Barra wrote that during the quarter GM showed higher profitability from EVs and its redesigned SUVs, improved performance in China, and cost discipline along with a focus on capital efficiency.

Wedbush Calls Results 'A Large Step in the Right Direction'

JPMorgan said in a note to clients that the company benefited from "stronger-than-expected industry pricing and stronger pricing for GM vehicles relative to the industry." Wedbush analyst Dan Ives added that the results were a testament to the company's goals of trying to balance production and profitability, calling it "a large step in the right direction as management continues to navigate the choppy waters."

Shares of General Motors recently rose nearly 8% to $52.72, trading at their highest level since early 2022.