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Consumer spending in North America has proven stickier than many forecast, and the auto sector is starting to price that in.
General Motors beat Wall Street's adjusted earnings-per-share consensus of $3.20 and its revenue estimate of $47.01 billion, then raised full-year guidance on the strength of what management described as a resilient consumer and sustained pricing.
The result and what it signals Against the backdrop of sustained debate over whether the U.S. vehicle buyer would crack under higher borrowing costs, GM's quarter lands firmly on the resilience side of that argument.
The analyst bar was $3.20 in adjusted EPS and $47.01 billion in revenue. The raised guidance sharpens the signal. A beat alone can be written off as a one-quarter event.
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