General Motors Co. made $2.8 billion in net income on revenue of $34.2 billion in the second quarter this year amid roaring demand and a global semiconductor shortage that has cut deep into inventories.
The Detroit automaker reported record pre-tax profit of $4.1 billion in the second quarter and $8.5 billion in the first half — hitting its previously announced first half of the year guidance of between $8.5 and $9.5 billion in pre-tax profits. GM now expects full-year pre-tax profits to be between $11.5 billion to $13.5 billion, up from the $10 billion to $11 billion previously given.