Investing.com - General Motors (NYSE:GM) reported better than expected fourth-quarter earnings and revenue ahead of Wednesday’s opening bell, and provided an upbeat 2019 outlook thanks to the resilience of two of its largest markets, the U.S. and China.
The Detroit-based automaker earned $1.43 a share on revenue of $38.4 billion.
Analysts polled by Investing.com expected GM to bring in a profit of $1.24 a share. The revenue target was $36.0 billion.
Results were driven by strong pricing, surging crossover sales, disciplined cost control and the successful launch of the company's all-new full-size pickup trucks: the Chevrolet Silverado and GMC Sierra.
The automaker said it sees a full-year profit in the range of $6.50 to $7.00 a share, above estimates for $6.27.
Following the release of the report, GM shares rallied around 4% in premarket trade to $40.85.
The results indicate that GM's ongoing efforts to reshape itself are starting to pay off. The automaker announced a sweeping restructuring plan in November that included layoffs, closing plants, and streamlining its vehicle lineup.