Auto giant General Motors (NYSE: GM) on Tuesday reported lower earnings for the second st quarter of 2022, despite a 5% increase in revenues.
Second-quarter revenues rose 5% annually to $35.7 billion. The company reported earnings of $1.14 per share, on an adjusted basis, down from last year’s profit of $1.97 per share. The market had predicted a bigger number for the latest quarter.
On a reported basis, it was a net profit of $1.70 billion or $1.14 per share, compared to $2.84 billion or $1.90 per share in the second quarter of fiscal 2021.
Check this space to read management/analysts’ comments on GM’s Q2 report
The value of GM’s stock nearly halved since the beginning of the year. The stock closed the last session lower and lost further soon after the earnings announcement on Tuesday.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Fewer companies filed for initial public offering this year, compared to 2021 when the market witnessed a record number of IPOs. With only a few weeks left for the year
Chipotle Mexican Grill (CMG): A few points to keep in mind if you have an eye on this restaurant chain
Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) were down 3% on Tuesday. The stock has dropped 13% year-to-date but there is still a positive sentiment in general about its
The cloud infrastructure market in the U.S. is projected to grow by double digits through 2030. The fast-paced cloud adoption has made leading tech firms like Oracle Corporation (NYSE: ORCL)