General Motors (GM) has raised its full-year guidance for the second time this year after reporting strong second-quarter results. The automaker plans to increase cost-cutting measures and aims to cut $3 billion in expenditures, up from the previous guidance of $2 billion. GM reported adjusted earnings before interest and taxes of $3.23 billion for Q2, up 52% from the previous year. The company also raised its adjusted earnings expectations for the full year to a range of $12 billion to $14 billion. However, the guidance raise is contingent on successful negotiations with labor unions, with contracts set to expire in September.

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