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GM’s fourth-quarter net income rose 5%, to $2.1 billion

General Motors provided Wall Street with a surprisingly bullish profit outlook for 2024. GM forecast operating profit of $12 billion to $14 billion—higher than analysts expected—after posting $12.4 billion in 2023. GM’s fourth-quarter net income rose 5%, to $2.1 billion, largely because of some one-time expenses that dented profitability a year earlier. Its operating income, however, fell 54% over the prior-year period, hurt primarily by a six-week factory strike and losses stemming from its budding electric-vehicle business. Pretax earnings per share, adjusted for one-time items, were $1.24, better than the $1.16 average estimated by analysts, according to FactSet. Revenue was flat at about $43 billion.

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