GM Raises Earnings Guidance For Second Time This Year

GM raised its earnings and cash flow guidance for 2023, for a second time this year, after reporting on Tuesday strong second-quarter profits beating analyst expectations on the back of strong demand for many of its models. GM’s revenue of $44.7 billion for the second quarter exceeded analyst estimates of $42.6 billon, and net income jumped to $2.6 billion from $1.666 billion for the second quarter of 2022. Profits would have been even higher were it not for a $792-million charge for new commercial agreements GM has with LG Electronics…