Shares rise after stronger quarterly profit and outlook boost
Shares of General Motors GM.N rose about 1.6% to $77 in premarket trading.
The company raised its full-year earnings outlook after posting a 30% increase in second-quarter core profit on the back of profitable SUV and truck sales.
GM raised its 2026 profit outlook by $500 million to a range of $14 billion to $16 billion.
On an adjusted basis, it earned quarterly profit per share of $3.57, above analyst expectations of $3.20, according to data compiled by LSEG.
The median price target of 28 brokerages covering the stock is $97.5, according to data compiled by LSEG.
As of the last close, the stock was down about 7% year to date.
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