GM stock rises on Q1 earnings beat, raised outlook

General Motors Co. GM stock rose 3.6% in premarket trades Tuesday, after the car giant reported better-than-expected first-quarter results and raised its outlook. The car maker earned $1.69 a share on net income of $2.395 billion, compared with earnings of $1.35 a share and net income of $2.939 billion in the prior year’s quarter. On an adjusted basis, GM earned $2.21 a share, compared with $2.09 a share in the same period last year, and above the FactSet consensus of $1.72 a share.

35 a share and net income of $2.939 billion in the prior year’s quarter. On an adjusted basis, GM earned $2.21 a share, compared with $2.09 a share in the same period last year, and above the FactSet consensus of $1.72 a share. The company’s revenue was $39.985 billion, up from $35.979 billion a year ago. Analysts surveyed by FactSet were looking for revenue of $38.550 billion. GM also raised its outlook. On an adjusted basis, GM now expects full-year net income of $8.4 billion to $9.

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Source: CNBC - 🏆 12. / 72 Read more »