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New York(CNN) General Motors reported a much better-than-expected first quarter, and said it will do even better than it expected for full-year earnings.
America’s largest automaker reported adjusted earnings of $3.1 billion, or $2.21 a share. While that’s up only slightly from what it earned a year earlier, it’s much better than the forecast of $1.73 a share that had been forecast by analysts surveyed by Refinitiv.
Revenue rose 11% compared to a year earlier to nearly $40 billion.
It also said it now expects to earnings between interest and taxes to be between $11 billion and $13 billion for the year. That’s up $500 million from the range it gave three months ago.
GM CEO Mary Barra said the improved guidance was because of “performance of the business and the opportunities ahead of us.”
Shares of GM (GM) climbed about 3% in premarket trading on the results and guidance.
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