General Motors (GM) Reports $11.21/Share Q2 Loss
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General Motors (NYSE: GM) reports a Q2 adjusted loss of $11.21 per share, versus the consensus of a $2.62 loss. Revenues were $38.16 billion, versus the consensus of $44.57 billion.
GM'S adjusted net loss was $6.3 billion, and reported net loss of $15.5 billion. Results impacted by $9.1 billion of predominantly non-cash special items. Adjusted operating cash flow was a negative $3.6 billion.
GM Chairman and CEO Rick Wagoner said, "As our recent product, capacity and liquidity actions clearly demonstrate, we are reacting rapidly to the challenges facing the U.S. economy and auto market, and we continue to take the aggressive steps necessary to transform our U.S. operations. We have the right plan for GM, driven by great products, building strong brands, fuel-economy technology leadership and taking full advantage of global growth opportunities."
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