General Motors Stock Falls After Ford Reports Q2 Results: What's Going On？ - General Motors (NYSE:GM)

Benzinga

2024-07-25 01:36

General Motors shares are trading lower after-hours Wednesday following Ford Motor Company's second-quarter earnings release. Here's a look at what's going on.

　　General Motors CoGM shares are trading lower after-hours Wednesday following Ford Motor Co.'s F second-quarter earnings release.

　　The Details:Ford shares are dropping after the company reported quarterly earnings per share of 47 cents, missing a Street consensus estimate of 68 cents. Ford also reported a 37% drop in revenue from its Ford Model e segment year-over-year, which the company attributed to industry-wide pricing pressure and lower wholesales.

　　Read Next: Viking Therapeutics Stock Climbs On Q2 EPS Beat

　　GM shares are down slightly in sympathy with Ford during after-hours trading. General Motors reported strong second-quarter results on Tuesday, beating Street estimates with sales growth of 7.2% year-over-year. GM also reported quarterly earnings of $3.06 per share, beating the analyst consensus estimate of $2.72.

　　GM, F Price Action:According to Benzinga Pro, General Motors shares are down 0.73% after-hours at $46.15 and Ford shares are down 10.24% at $12.27 at the time of publication Wednesday.

　　Image: Shutterstock

Disclaimer:The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.