General Motors said it earned $ 2.9 billion in the first quarter, compared to analysts’ estimates of $ 2.45 billion, and expects full-year net income of $ 9.6 billion to $ 11.2 billion.
GM has reaffirmed its full-year outlook for E 13.0 billion to $ 15.0 billion compatible EBIT.
Mary Barra, CEO, said in a letter to shareholders: “Our confidence is strong because we accelerate our transformation, even in the face of a challenging macro environment.”
GM said its first-quarter results were driven by “improved production and strong customer demand in North America.”
The automaker said on February 1 that it could improve wholesale supplies by 25% to 30% this year, and predicted a পণ্য 2.5 billion increase in product and logistics costs.
$ 36 billion First quarter revenue rose 11% from $ 32.5 billion a year earlier. The earnings per share was 35 1.35 compared to $ 2.03 a year ago, while the EPS-thin-adjustment was 9 2.09 compared to 25 2.25 a year ago.
GM said it expects full-year EPS-blends of $ 5.76 to $ 6.76, and EPS-thin-adjusted of $ 6.50 to 50 7.50.
GM shares were down 0.1% after trading at $ 38 an hour.
Reporting by Paul Leonart, Joe White and Ben Cleman in Detroit; Edited by Chris Reese, Jonathan Otis and Bernard Orr