This week was a rollercoaster ride for the auto markets, with General Motors posting its earnings, while Tesla Inc. shares enjoyed a surge following a successful Q4 earnings report.
Here’s a quick recap of the top stories.
GM Q4 Earnings Beat Estimates
General Motors reported fourth-quarter adjusted EPS of $2.51, up 30.4% year over year, surpassing the analyst estimate of $2.20. Quarterly revenue came in at $45.287 billion, slightly below the Street's $45.804 billion forecast. GM's Board also approved a 3-cent increase to the quarterly dividend, raising it to 18 cents per share, and authorized a new $6 billion share repurchase program.
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Tesla’s Q4 Earnings Report Boosts Stock
Shares of Tesla Inc. climbed in Wednesday’s extended trading following the release of the company’s Q4 earnings report. The electric vehicle giant beat estimates on both the top and bottom lines, leading to a positive market response.
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Tesla Reveals FSD Subscription Numbers
In a first, Tesla Inc. disclosed the total number of active Full Self-Driving (FSD) subscriptions during its Q4 earnings call. The company reported 1.1 million active FSD subscribers worldwide, with over 70% being upfront purchases.
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Pony AI Expands Fleet Through Strategic Partnership
Pony AI Inc. saw its stock rise after announcing a strategic partnership with Beijing ATBB Travel & Express Service Co., Ltd. The collaboration is expected to expand Pony AI’s Robotaxi operations via an asset-light, partnership-driven approach.
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Waymo Robotaxi Crashes During Testing
A Robotaxi, developed by Alphabet Inc.‘s Waymo in collaboration with Chinese automaker Zeekr, crashed into multiple vehicles in Los Angeles’ Echo Park area during testing. The incident, which was captured on surveillance camera footage, occurred around the Dodger Stadium area.
Read the full article here.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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