Automotive giant General Motors Co. (NYSE: GM) Tuesday reported a sharp rise in adjusted profit for the second quarter of 2024, reflecting an increase in sales.
Revenue increased 7% year-over-year to $48 billion in the June quarter, with strong contributions from the GM North America division which accounts for about 85% of total sales.
The positive top-line performance translated into a 60% jump in adjusted earnings to $3.06 per share. Unadjusted net income was $2.93 billion or $2.55 per share in Q2, compared to $2.57 billion or $1.83 per share in the year-ago period.