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GM net profit beats Wall Street estimates, shares up more than 2%

The news sent GM's shares up more than 2% in pre-market trading

Reuters  |  Detroit 

General Motors Co on Tuesday reported a better-than-expected quarterly net profit from continuing operations despite falling revenue and the No. 1 U.S. automaker maintained its earnings outlook 2017. The news sent GM's shares up more than 2 percent in pre-market trading. The earnings release comes at a time when Wall Street is concerned that the U.S. auto industry is entering a downturn. Automakers have reported declining sales for the past four months in a row. Analysts are concerned over GM's inventory of unsold vehicles, which the automaker has built up ahead of ...

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First Published: Tue, July 25 2017. 19:49 IST