New York
CNN
—
Normal Motors reported a a lot stronger than anticipated fourth-quarter revenue, lifting full-year outcomes to document ranges for the second straight 12 months.
The biggest US automaker additionally stated Tuesday it’s shopping for a $650 million fairness stake in Lithium Americas, which can give it entry to the uncooked materials wanted to construct batteries to energy 1 million electrical autos a 12 months within the first section of manufacturing.
For the quarter, GM earned adjusted earnings of $3 billion, or $2.12 a share, up from $1.35 a share a 12 months earlier and much better than forecasts of $1.69 a share from analysts surveyed by Refinitiv. That lifted full-year adjusted revenue to $11 billion, up from the $10.4 billion it earned in 2021, which had been its earlier document.
Shares of GM
(GM) soared 5% in pre-market buying and selling on the outcomes.
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