The Detroit car company reported first-quarter earnings of $2.2 billion, or $1.41 per share on an adjusted basis, on revenue of $34.9 billion. Analysts were expecting the company to report earnings of $1.11 per share on revenue of $35.56 billion. Automotive revenue was $31.26 billion and it also missed expectations.
The company's bottom line was boosted by strong sales in its lucrative U.S. pickup truck segment. GM reported that transaction prices for its new full-size crew cab pickup trucks were up $5,800 over the outgoing models.
Sales of the company's most popular pickups rose 20% year over year.
The company also benefited from a revaluation of the stakes it holds in ride-hailing company Lyft (LYFT) and Peugeot SA.
GM said that it delivered nearly 814,000 vehicles in China in the first quarter after launching the Monza and Chevrolet Onix in the region. Total vehicle sales declined 10% while U.S. sales fell 7% in the quarter.
The stock declined 2.6% to $38.97.