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General Motors Co. is beginning to surprise investors, not just by exceeding Wall Street estimates but by how they beat those projections.
The automaker’s third-quarter profit did so not just because of strong U.S. truck sales, said Barclays analyst Brian Johnson. GM produced a record $3.1 billion in adjusted earnings before interest and taxes both with cost cuts worldwide and by shifting sales to more expensive models in China, keeping profits stable even as the most-coveted car market has slowed.