(Updated - January 31, 2023 9:09 AM EST)
By Scott Kanowsky and Senad Karaahmetovic
Investing.com -- General Motors Company (NYSE:GM) reported fourth-quarter income that beat estimates and unveiled stronger-than-expected 2023 earnings projections, as the U.S. carmaker was boosted by electric car demand and easing supply chain constraints.
Adjusted earnings per share rose to $2.12 in the three-month period ended on December 31, up from $1.35 in the corresponding timeframe in 2021 and toppingpanalyst raised GM for a "very strong guide" that "sets a high bar for the year.”
However, MS analysts “question whether the company will be able to self-fund such spending plans in a higher-rate, slower-growth environment.”
Shares in the company jumped 5.6% in U.S. pre-market trading on Tuesday.