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MarketBeat
MarketBeat
Business
Ryan Hasson

GM Beat and Added a $20 Billion Buyback—Why Did the Stock Fall?

General Motors (NYSE: GM) did almost everything investors could have asked for in its third-quarter report on Tuesday, Oct. 20. It posted record revenue of $50 billion, beat estimates with adjusted earnings of $3.70 per share, and delivered $4.1 billion in adjusted operating profit.

It then unveiled a fresh $20 billion share buyback and told the market that the costly charges tied to its electric-vehicle pullback are now largely behind it.

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