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GM’s Solid Q4

General Motors ($GM@US) exceeded Wall Street expectations for the fourth quarter and forecasted another year of strong performance in 2023. The U.S. automaker’s earnings per share were $2.12 versus the $1.69 expected, and its revenue was $43.11 billion versus the $40.65 billion expected. GM’s full-year 2022 revenue came in at $156.7 billion, with net income attributable to stockholders of $9.9 billion and adjusted earnings before interest and tax at a record $14.5 billion. The strong performance suggests that GM is holding on to its record results as conditions in the U.S. auto industry begin to stabilize after several years of record-low inventories and resilient consumer demand. GM’s shares were up 5 percent in premarket trading.
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