GM Beats EPS Estimates, Revenue Falls Short
General Motors Corp. (NYSE: GM) has just reported second-quarter net income attributable to common stockholders of $1.5 billion, or $0.90 per fully diluted share. That compares to $1.54 per share in the year-ago period. Net revenue in the second quarter…
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Chairman and CEO Dan Akerson said:
Our results in North America, our International Operations and at GM Financial were solid but we clearly have more work to do to offset the headwinds we face, especially in regions like Europe and South America. … Despite the challenging environment, GM has now achieved 10 consecutive quarters of profitability, which is a milestone the company has not achieved in more than a decade.
GM, like Ford Motor Co. (NYSE: F), said Wednesday that U.S. sales declined in July, which surprised analysts. GM’s sales fell 6% year-over-year, even though Cadillac sales were up 21%.
GM shares are up more than 3% in premarket trading to $20.40, in a the 52-week trading range of $18.72 to $27.68. Thomson Reuters had a consensus analyst price target of $31.63 before this news. Ford shares are more than 1% higher in premarket trading as well.
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.
