General Motors Company Q2 Profit Decreases, misses estimates

(RTTNews) - General Motors Company (GM) released earnings for second quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $1.69 billion, or $1.14 per share. This compares with $2.84 billion, or $1.90 per share, in last year's second quarter.

Excluding items, General Motors Company reported adjusted earnings of $1.14 per share for the period.

Analysts on average had expected the company to earn $1.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.7% to $35.76 billion from $34.17 billion last year.

General Motors Company earnings at a glance (GAAP) :

-Earnings (Q2): $1.69 Bln. vs. $2.84 Bln. last year. -EPS (Q2): $1.14 vs. $1.90 last year. -Analyst Estimates: $1.30 -Revenue (Q2): $35.76 Bln vs. $34.17 Bln last year.

-Guidance: Full year EPS guidance: $6.50 - $7.50