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General Motors (GM) reported a strong third quarter, posting a profit of $3 billion despite a drop in US sales and losses in China. The automaker's results exceeded Wall Street's expectations, driven by robust consumer demand for its high-margin trucks and SUVs. Consequently, GM raised the low end of its full-year profit forecast. The positive earnings report led to a significant surge in GM's stock, which jumped by nearly 10%, marking its best trading day in four years. GM achieved a 'triple beat' and saw its stock surge by double digits.
WATCH: General Motors surpassed Wall Street's expectations in the third quarter, due to strong consumer demand for its trucks and SUVs and boosting its shares by almost 10% https://t.co/K9EW7FuF6d https://t.co/ssrYXsAlcl
General Motors overcomes US sales, posts 3rd quarter profit of $3B https://t.co/kI3gDERTlU https://t.co/t4qqlo0PcP
🚨 TOP Chart of the Day on Stocktwits… General Motors Makes Its Earnings Move 🚘️ The automaker had its best day since 2020 after reporting a third straight quarterly “triple beat.” Strength in its North American pricing helped drive optimism and push Stocktwits community… https://t.co/ZTtjH1594g