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GM Shares Rise on Profit Beat, Signs Global Chip Shortage Easing

  • CEO Barra sees semiconductor supply improving throughout year
  • Automaker benefits from increased sales volume, higher prices
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GM CEO Barra on First-Quarter, EV Demand, Batteries
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General Motors Co. shares rose after the carmaker beat analysts’ estimates for first-quarter profit and reaffirmed guidance for the year, signaling a debilitating shortage of semiconductors is starting to fade.

GM reported profit of $2.09 a share, excluding some items, compared with the $1.68 a share average of analysts’ estimates. The company said better access to computer chips bolstered sales volumes while tight inventories across the industry boosted prices on crossovers and pickups.