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GM says 2018 earnings to top prior forecast, shares jump 7 percent


(Reuters) - Co said on Friday it expects 2018 adjusted to exceed its prior estimates and forecast 2019 earnings above Wall Street expectations, sending its shares up more than 7 percent.

The largest U.S. carmaker said in October it expected adjusted 2018 earnings of $5.80-$6.20.

The company also expects adjusted free cash flow for 2018 to be above its previous guidance.

GM forecast 2019 adjusted in the range of $6.50 to $7.00, above the $5.86 expected by analysts according to IBES data from Refinitiv.

The company said it expects adjusted automotive free cash flow in 2019 to come in between $4.5 billion and $6 billion.

"We will continue to strengthen our core business and invest in the technologies that will transform the future of mobility. Managing both well is critical to position for success for generations to come," said.

(Reporting by in Bengaluru; Editing by Saumyadeb Chakrabarty)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 11 2019. 20:00 IST