GM up 6% after earnings beat
REUTERS/Rick Wilking
"The first two quarters of the year were strong as we fully capitalized on a robust North American industry and maintained our strength in China, despite the challenging conditions in that market," said GM CEO Mary Barra in the statement.
"We said our goal was to improve our earnings and margins this year, and we are on-plan. Consistent with that, we believe our results in the second half of the year will be even better than the first half, and we're confident we will meet our 2016 targets."
The company reported adjusted earnings per share of $1.29 for the quarter, up 122% year-over-year, and ahead of estimates for $1.06 according to Bloomberg. Sales totaled $38.2 billion, down from $39.6 billion the previous year, and lower than the forecast for $40.4 billion.
In premarket trading, shares rose 5%.
- 5 schools in Delhi, 1 in Noida receive bomb threats, searches underway
- Five Olympic 2024 quotas for Indian badminton players
- 127-year-old Godrej Group splits conglomerate between family
- India slashes windfall tax on crude petroleum
- Foreign portfolio investors turn net sellers in Indian stocks this April
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market