General Motors (GM) adds 3% on big Q1 beat, raised FY forecast

General Motors (NYSE: GM) shares are up in pre-open Tuesday after the carmaker reported better-than-expected Q1 results and raised its full-year forecast.

The Michigan-based business posted EPS of $2.21 on revenue of $40 billion, topping the consensus for earnings of $1.70 on revenue of $38.4B. The company sold 723,000 cars in North America and 141,000 internationally, both below the consensus.

Still, the automobile maker boosted its adjusted EPS guidance for the full year. It now sees the FY adjusted EPS between $6.35-7.35 from the prior range of $6-7 and above the $6.22 consensus.

The adjusted EBIT is now seen at $12B (up or down $1B), better than the prior forecast of $11.5B.

By Senad Karaahmetovic

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