General Motors shares jumped.
The company said it expects 2018 adjusted earnings per share to exceed its prior estimates.
It also forecast 2019 earnings above Wall Street expectations.
Reuters correspondent Nick Carey is covering the story:
(SOUNDBITE) (English) REUTERS CORRESPONDENT NICK CAREY, SAYING:
"Overall sales are declining, but a lot of what GM is banking on for its U.S. performance, is its pickup trucks, which is by far the most profitable segment in the U.S. and, probably, one of the most profitable auto segments in the world. GM has revamped its lineup and is banking on a lot of profits coming from that and then the rest of their performance, so it looks like it's going to come from cost cutting."
For the past two years, GM has been exiting unprofitable markets in Europe and developing markets, restructuring money-losing operations in South Korea, and killing unprofitable car lines in North America
In November, the company put five regional factories on notice for closure, and cut almost 15,000 jobs.
The automaker also said its Cadillac brand will become its lead electric vehicle. It plans to launch a new generation of EVs to take on Tesla.