HomeIndustriesInvestors Await GM Earnings Results, Status on EV Game Plan

Investors Await GM Earnings Results, Status on EV Game Plan

General Motors is set to release its second-quarter earnings on Tuesday, with investors waiting to hear whether the auto manufacturer is on track to achieving its electric vehicle (EV) game plan.

Earlier this month, the company reported that its U.S. deliveries rose 18.8% to 691,978, its best result since the fourth quarter of 2022. This comes after General Motors beat its Q1 top and bottom-line revenue expectations, subsequently raising its 2023 full-year outlook as a result.

For Q2, Wall Street analysts are expecting GM to report a top-line revenue of $42.82 billion; a 19.8% increase from the previous year and a 7% rise from the previous quarter. The company is expected to report adjusted earnings per share (EPS) of $1.65 and adjusted net income of $2.52 billion; the latter figure being a 51.2% surge from the previous year.

Aside from its earnings, the company’s EV game plan is also in the spotlight. Previously, GM confirmed that it is aiming to build 50,000 EVs in North America during the first half of the year, doubling that figure in the second half.

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...