General Motors Co(NYSE:GM) shares are trading higher by 7% to $53.40 since Monday's open. The company this week reported a third-quarter earnings beat and raised its 2024 guidance.

What Happened:GM delivered quarterly adjusted EPS of $2.96, above the analyst consensus estimate of $2.43. This earnings beat reflects GM's efforts to improve profitability across its core business andelectric vehicle (EV)initiatives.

In its third-quarter report, GM posted adjustedearnings before interest and taxes (EBIT)of $4.115 billion, up 15.5% year-over-year, with an improved EBIT margin of 8.4%, a 30 basis-point increase.

GM also recorded quarterly revenue of $48.757 billion, marking...