General Motors (
GM) has once again posted impressive second-quarter results, significantly surpassing market expectations. The Detroit-based automaker reported record revenue of $47.97 billion, well above the estimated $45.51 billion, representing a 7.2% year-over-year increase. Adjusted earnings per share (EPS) came in at $3.06, compared to estimates of $2.70, with adjusted earnings before interest and taxes (EBIT) at $4.438 billion, beating the anticipated $3.88 billion.
GM CEO Mary Barra attributed the strong results to the dedication of the GM team, dealers, suppliers, and other business partners. The company also authorized a $6 billion share buyback plan in June, which CFO Paul Jacobson highlighted as a result of the robust free cash flow generated from the internal combustion engine (ICE) portfolio and underlying business performance.
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