General Motors (GM) earnings Q1 2024 [Video]

DETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street’s top- and bottom-line expectations for the first quarter.

The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter. The company now expects adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, up from a previous range of $12 billion to $14 billion, or $8.50 to $9.50 a share.

GM also raised expectations for adjusted automotive free cash flow to a range of $8.5 billion to $10.5 billion, up from an earlier forecast of $8 billion to $10 billion.

GM shares jumped more than 4% Tuesday following the report.

Here’s how the company performed in the first quarter, compared with average estimates compiled by LSEG:

• Earnings per share:$2.62 adjusted vs. $2.15 …