GE & GM Earnings, Plus Deals, Deals, Deals
In this episode of Motley Fool Hidden Gems Investing, Motley Fool contributors Tyler Crowe, Matt Frankel, and Lou Whiteman discuss:
General Motors (GM) delivered solid earnings in Q3, surpassing analysts' estimates. Revenue and earnings both beat expectations, with North America showing strong performance, driven by a favorable product mix. The company's trucks and big SUVs were particularly successful, with the highest pickup sales in the company's history.
GM's free cash flow reached a four-year high at nearly $6 billion, and the company has increased its stock buyback program, authorizing a new $20 billion buyback. Software and services revenue also performed well for GM. Despite the positive earnings report, the market's reaction was lukewarm, as GM's valuation remains extremely low at around six times earnings.
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