Earnings season rolled on with corporate results issued at a fast clip. Overall, results continue to trend in a positive direction. With 25% of S&P 500-listed companies having released financial results for the final months of 2023, 69% have beaten profit expectations and 68% have reported better-than-expected revenue figures, according to data from FactSet. Among the prints issued to date, there have been some big misses and big beats. Stock prices have risen or fallen by as much as 20% in a single trading day, depending on whether a company exceeded or missed analyst forecasts for its financial results. That demonstrates the power earnings season has on individual stocks and the market as a whole. Investors can expect more highs and lows in the weeks ahead as we continue moving through Q4 2023 earnings. Here are three standout stocks crushing Q4 earnings estimates.

General Motors (GM)

General Motors (NYSE:GM) issued a very strong fourth quarter that crushed Wall Street forecasts, sending its share price up 8%. The Q4 beat was surprising coming in as it did months after the Detroit automaker endured a six-week strike by the United Auto Workers (UAW) union that disrupted operations and cost it billions of dollars in lost productivity. Still, GM reported Q4 2023 earnings per share (EPS) of $1.24 versus $1.16, the consensus expectation of analysts.

Revenue came in at $42.98 billion versus the $38.67 billion estimated. Sales at the company were flat from a year earlier. Looking ahead, General Motors also issued strong guidance, saying it expects EPS of $8.50 to $9.50 and free cash flow of $8 billion to $10 billion for all of 2024. The earnings guidance is better than the company’s 2023 results and higher than Wall Street forecasts that called for flat results this year. GM stock has now gained 39% over the last three months and is on an upswing.

Pfizer (PFE)

Pfizer (NYSE:PFE) got the attention of investors by reporting a surprise profit for Q4 2023 as sales of its COVID-19 medications performed better than expected. The drug maker reported Q4 EPS of 10 cents, which was much better than a loss of 22 cents expected among analysts. Revenue totaled $14.25 billion versus $14.42 billion forecasted on Wall Street. Overall sales were down 41% from a year earlier, but the result was not nearly as bad as feared.

Pfizer’s COVID-19 vaccine sales totaled $5.36 billion in Q4, down 53% from a year earlier but better than the $4.99 billion estimated by analysts tracking the company’s progress. Pfizer has struggled with a sharp decline in its COVID-19 business as infection rates around the world dwindle. However, gazing forward, the pharmaceutical company reiterated its full-year 2024 guidance that calls for revenue of $58.50 billion to $61.50 billion. Pfizer said it expects 2024 earnings of $2.05 to $2.25 per share.

Pfizer added in its earnings release that it hopes its $43 billion acquisition of cancer drug maker Seagen, which closed during Q4, will restore investor confidence in the company. PFE stock has declined 37% in the last 12 months.

American Express (AXP)

The stock of credit card giant American Express (NYSE:AXP) also got a big boost, rising 7% after it issued financial results that crushed Q4 earnings estimates and announced that it is raising its quarterly dividend payment to shareholders by 17%. For Q4 2023, American Express reported EPS of $2.62. That missed Wall Street forecasts of $2.64. Revenue of $15.80 billion was below estimates that called for $16 billion in sales. However, the misses were due to total provisions set aside for credit losses of $1.44 billion in Q4.

In terms of guidance, American Express offered a sunny outlook for 2024, saying that it expects revenue growth of 9% to 11% and EPS of $12.65 to $13.15. That was better than the earnings outlook of $12.38 a share expected on Wall Street. AXP stock also got a boost from news that American Express will pay a dividend of 70 cents a share, up 17% from 60 cents previously. The increased dividend payout will begin with the first quarter 2024 dividend declaration, the company said. AXP stock is up 17% in the last year.

On the date of publication, Joel Baglole did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.