General Motors Co. shares
GM,
slid lower in premarket trade Tuesday, after the car maker’s second-quarter profit fell short of estimates, offsetting a revenue beat. The company posted net income of $1.692 billion, or $1.14 a share, for the quarter, down from $2.836 billion, or $1.90 a share, in the year-earlier period. Adjusted per-share earnings came to $1.14, below the $1.33 FactSet consensus. Revenue rose to $35.759 billion from $34.167 billion a year ago, ahead of the $33.185 billion FactSet consensus. The company said it now expects full-year EPS of $5.76 to $6.76 and adjusted EPS of $6.50 to $7.50. The FactSet consensus is for full-year EPS of $6.89. Shares were down 0.9% premarket and have fallen 41% in the year to date, while the S&P 500
SPX,
has fallen 17%.
