This story incorporates reporting from Benzinga.com, The Associated Press - Business News on MSN.com and The Wall Street Journal on MSN.com.
General Motors reported a fourth-quarter loss attributed primarily to $5 billion in charges connected to its operations in China and difficulties in its robotaxi business. Despite these setbacks, the company still managed to surpass Wall Street’s expectations for both revenue and earnings. The automotive giant’s cash flow increased by 1.6% year over year, amounting to $4.765 billion for the quarter ending December 31, 2024.
General Motors’ full-year net income for 2024 reached $6 billion, alongside an adjusted earnings before interest and taxes (EBIT) of $14.9 billion. This result underscores the company’s resilience amid challenging market conditions, particularly in China, which has been a significant growth area historically. Analysts had anticipated a more substantial decline due to the charges.
The company declared a quarterly cash dividend of $0.12 per share, demonstrating financial stability despite the quarterly loss. This dividend is scheduled for payment on March 20, 2025. The combination of exceeded expectations in revenue and stock performances highlights General Motors’ ability to navigate economic uncertainties. However, the impact of its strategic pivots in international markets remains to be fully assessed as the automotive landscape continues to evolve.
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