General Motors made a profit less than Wall Street’s second-quarter earnings expectations despite posting solid profits and raising year-on-year guidance.<\/p>\n\n\n\n
GM’s second-quarter profit fell by about $1.3 billion due to warranty recovery costs, including $800 million related to the Chevrolet Bolt EV.<\/p>\n\n\n\n
The electric vehicle was recalled twice in the past year due to fire hazards.<\/p>\n\n\n\n
Earnings per share in the second quarter of 2021 came to $1.97, against expectations of $2.23, while the company achieved revenues of $34.17 billion, compared to expected revenues of $30.9 billion.<\/p>\n\n\n\n
Today, GM raised its full-year earnings forecast to between $11.5 billion and $13.5 billion, or $5.40 to $6.40 per share, up from $10 billion to $11 billion, or $4.50 to $5.25 per share.<\/p>\n\n\n\n
General Motors shares fell about 3% during pre-market trading to $56.35 per share.<\/p>\n\n\n\n
Net income was $2.8 billion for the second quarter, compared to a loss of $758 million in the second quarter of 2020 due to the coronavirus pandemic, which has shut down its factories.<\/p>\n","protected":false},"excerpt":{"rendered":"
General Motors made a profit less than Wall Street’s second-quarter earnings expectations despite posting solid profits and raising year-on-year guidance. GM’s second-quarter profit fell by about $1.3 billion due to warranty recovery costs, including $800 million related to the Chevrolet Bolt EV. The electric vehicle was recalled twice in the past year due to fire …<\/p>\n","protected":false},"author":9,"featured_media":33263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7283,6858],"class_list":["post-49046","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-general-motors","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/49046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=49046"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/49046\/revisions"}],"predecessor-version":[{"id":49047,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/49046\/revisions\/49047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/33263"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=49046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=49046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=49046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}