GM easily beats earnings expectations and offers upbeat outlook

Shares of General Motors Co. GM, -4.37% were up more than 4% in premarket activity Tuesday after the car company easily topped expectations with its fourth-quarter results and issued an upbeat profit forecast. The company logged net income of $2.00 billion, or $1.39 a share, compared with $1.74 billion, or $1.16 a share, in the year-prior period. On an adjusted basis, GM earned $2.12 a share, up from $1.

35 a share a year before, while analysts were modeling $1.69 a share. Revenue rose to $43.11 billion from $33.58 billion, while the FactSet consensus was for $39.96 billion. For the full year, GM anticipates adjusted earnings per share of $6.00 to $7.00, whereas the FactSet consensus was for $5.57 a share. The company also announced that it would work with Lithium Americas Corp. LAC, -2.27% to jointly invest in development of the Thacker Pass lithium mine in Nevada.

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