Shares in the biggest US carmaker closed 0.6% up after it raised its 2016 earnings forecast by 25 cents to between $5.25 and $5.75 per share.
GM also plans to raise its stock buyback programme by 80% to $9bn and extend it to the end of 2017.
In total, it plans to give $16bn back to shareholders by the end of 2017.
GM executive Mary Barra said: "We made significant progress executing our strategic plan and the results are being demonstrated through our improved earnings."