General Motors (GM) Q2 Earnings Beat Estimates, Down Y/Y
Zacks Investment Research | Jul 31, 2019 09:23PM ET
General Motors Company (NYSE:GM) reported adjusted earnings of $1.64 per share in second-quarter 2019, down 9.4% from the prior-year quarter. However, its earnings beat the Zacks Consensus Estimate of $1.43.
In the quarter, the sale of Chevrolet Silverado and GMC Sierra light-duty crew cabs grew year over year in double digits. This was the second consecutive quarter of witnessing growth for the same. This is in sync with the automaker’s strategy to launch high-content, high-margin trucks.
General Motors reported revenues of $36.1 billion, down 1.9% from the year-ago quarter. However, revenues beat the Zacks Consensus Estimate of $35.6 billion.
In the reported quarter, total sales for the wholesale unit declined to 1.13 million from 1.2 million in the second quarter of 2018. Worldwide retail units sold declined to 1.94 million from 2.07 million in the year-ago quarter.
The automaker’s global market share was 10.7% in the reported quarter, reflecting a decline from 11.1% in the year-ago quarter.
General Motors Company Price, Consensus and EPS Surprise
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.