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General Motors (GM) Q2 Earnings Beat, Revenues Miss
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General Motors Company (GM - Free Report) is a leading global automotive company based in the U.S. The automaker is focused on investment in innovative technologies and vehicles which should provide sustained growth while maximizing shareholder value. The company is also gaining new contracts to expand its business.
However, falling sales volume in the U.S., high inventory and increasing recalls are concerns.
Estimate Trend & Surprise History
Investors should note that the second-quarter earnings estimate for General Motors has declined over the last week.
General Motors has delivered positive earnings surprises in the past few quarters. It surpassed the Zacks Consensus Estimate in each of the trailing 4 quarters with an average beat of around 17.83%.
We have highlighted some of the key stats from this just-revealed announcement below:
During the quarter, General Motors’ adjusted earnings came in at $1.89 per share. The prior-year quarter adjusted earnings were 1.79 per share. The bottom line comfortably beat the Zacks Consensus Estimate of $1.72.
Revenues
General Motors reported revenues of $37 billion, down 12.7% from the year ago quarter figure. Revenues also missed the Zacks Consensus Estimate of $40.25 billion.
Key Stats/Developments to Note
During the quarter, total sales delivered in the U.S. were 725,000 vehicles, which were driven by 24% increase in crossover sales.
The second quarter crossover performance is the best in the history of General Motors.
Zacks Rank
Currently, General Motors has a Zacks Rank #5 (Strong Sell), but that could change following its earnings report which has just released.
General Motors’ share price has decreased 1.7% in pre-market trading so far after the automaker released the second quarter results. Clearly, the initial reaction to the report is positive.
Check back later for our full write up on General Motors’ earnings report!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
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General Motors (GM) Q2 Earnings Beat, Revenues Miss
General Motors Company (GM - Free Report) is a leading global automotive company based in the U.S. The automaker is focused on investment in innovative technologies and vehicles which should provide sustained growth while maximizing shareholder value. The company is also gaining new contracts to expand its business.
However, falling sales volume in the U.S., high inventory and increasing recalls are concerns.
Estimate Trend & Surprise History
Investors should note that the second-quarter earnings estimate for General Motors has declined over the last week.
General Motors has delivered positive earnings surprises in the past few quarters. It surpassed the Zacks Consensus Estimate in each of the trailing 4 quarters with an average beat of around 17.83%.
We have highlighted some of the key stats from this just-revealed announcement below:
General Motors Company Price and EPS Surprise
General Motors Company Price and EPS Surprise | General Motors Company Quote
Earnings
During the quarter, General Motors’ adjusted earnings came in at $1.89 per share. The prior-year quarter adjusted earnings were 1.79 per share. The bottom line comfortably beat the Zacks Consensus Estimate of $1.72.
Revenues
General Motors reported revenues of $37 billion, down 12.7% from the year ago quarter figure. Revenues also missed the Zacks Consensus Estimate of $40.25 billion.
Key Stats/Developments to Note
During the quarter, total sales delivered in the U.S. were 725,000 vehicles, which were driven by 24% increase in crossover sales.
The second quarter crossover performance is the best in the history of General Motors.
Zacks Rank
Currently, General Motors has a Zacks Rank #5 (Strong Sell), but that could change following its earnings report which has just released.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction
General Motors’ share price has decreased 1.7% in pre-market trading so far after the automaker released the second quarter results. Clearly, the initial reaction to the report is positive.
Check back later for our full write up on General Motors’ earnings report!
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>