GM beats on earnings for 1st quarter

Bill Pugliano / Stringer

GM CEO Mary Barra.

• GM beat analysts expectations for first-quarter earnings.
• The automaker cited costs in the quarter related to new pickups and its struggling GM Korea business.
• GM shares are down about 9% year-to-date.

General Motors reported first-quarter earnings Thursday, beating expectations with earnings of $1.43 per share on revenue of $36.1 billion.

Analysts anticipated $1.24 per share, according to Reuters.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

The automaker took a nearly $1-billion charge related to its ongoing struggles to fix its GM Korea business and also suffered somewhat from a major manufacturing shift for its new full-size pickups, bestsellers for the company.

"Results this quarter were in line with our expectations with planned, lower production in North America related to the transition to our all-new Chevrolet Silverado and GMC Sierra," CEO Mary Barra said in a statement.

GM shares were flat in pre-market trading. The stock has declined almost 9% year-to-date.

Markets Insider