General Motors beats Wall Street second-quarter expectations as EV retreat narrows losses

General Motors increased several key 2026 earnings forecasts after the company beat Wall Street's second-quarter expectations. 

The company's revenue in the second quarter was $48.03 billion versus the expected $47.01 billion, and its earnings per share was an adjusted $3.57 versus an expected $3.20. 

The Detroit automobile manufacturer attributed its guidance change to decreased losses on all-electric vehicles as it completes its multibillion-dollar retreat from earlier EV commitments, as well as consistent vehicle transaction prices and lower warranty costs, CNBC reported. 

General Motors CFO Paul Jacobson told CNBC's "Squawk Box" that the results were consistent with what GM has been doing for the last several years, adding that its first-half earnings per share was 25% higher in the first half than at any time in the company's history.