GM Reports Higher Quarterly Profit, Forecasts Lower Results in 2023
Reuters2023-01-31
General Motors Co(GM.N)on Tuesday reported a higher quarterly net income for the fourth quarter, but said profit in 2023 would fall from last year.
For the full year, GM's profit dropped to $9.9 billion from $10.0 billion in 2021. EBIT-adjusted income of $14.5 billion was a record, up slightly from $14.3 billion a year earlier.
GM said it expects net income in 2023 of $8.7 billion to $10.1 billion, and EBIT adjusted of $10.5 billion to $12.5 billion.
General Motors stock jumps over 5% in premarket trading.
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