General Motors misses Wall Street second-quarter earnings expectations, raises 2021 guidance

missed Wall Street's earnings expectations for the second-quarter despite a strong profit and raising its guidance for the year.

GM's second-quarter earnings were dragged down due to about $1.3 billion in warranty recall costs, including $800 million related to the Chevrolet Bolt EV. The electric vehicle has been recalled twice in the past year Here's how GM did compared with what Wall Street expected based on average estimates compiled by Refinitiv.The automaker on Wednesday raised its adjusted full-year guidance to between $11.5 billion and $13.5 billion, or $5.40 to $6.40 a share, up from $10 billion to $11 billion, or $4.50 to $5.25 a share.On an unadjusted basis, net income was $2.

due to the coronavirus pandemic causing rolling shutdowns of its factories. The automaker reported pretax adjusted earnings of $4.1 billion for the second quarter, up from a loss of $536 million a year earlier.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

General Motors is set to report earnings before the bell. Here's what Wall Street expectsGM has projected better-than-expected results in the second quarter despite the industrywide impact of the semiconductor shortage.
Source: CNBC - 🏆 12. / 72 Read more »

U.S. company profits even bigger than Wall Street's lofty targetsMuch stronger-than-expected profit reports from U.S. companies in recent weeks have ratcheted up already high Wall Street forecasts on how second-quarter earnings growth will look versus last year.
Source: Reuters - 🏆 2. / 97 Read more »

Discovery Tops Wall Street’s Q2 Estimates On Advertising Rebound; Streaming Business Hits 18M SubscribersAdvertising rebounded strongly in the second quarter, enabling Discovery Communications to easily beat Wall Street’s estimates. Total revenue climbed 21% over the prior-year quarter, reaching…
Source: DEADLINE - 🏆 109. / 63 Read more »

Apple, healthcare stocks help Wall St shrug off Delta worriesWall Street's main indexes rose on Tuesday on gains in Apple and healthcare stocks, even though concerns around a surge in the Delta variant of the coronavirus took some shine off an upbeat corporate earnings season.
Source: Reuters - 🏆 2. / 97 Read more »