Key Takeaways General Motors posted better-than-expected profit and sales as it kept prices steady and controlled costs. The biggest U.S. carmaker raised the low end of its profit guidance.General Motors shares traded at their highest level since January 2022.

“We believe this was a large step in the right direction as management continues to navigate the choppy waters and ultimately, was a long-awaited turnaround for the GM story,” Wedbush analyst Dan Ives said in a note on Tuesday.

GM For the third quarter, Wall Street projects earnings per share of $2.38 and an operating profit of $3.3 billion from sales of $44.7 billion, according to FactSet.