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8/4, 1:34 PM (Source: TeleTrader)
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GM's Q2 revenue doubles to $34.2 billion

General Motors Co. (GM) reported on Wednesday that its total net sales and revenue in the second quarter of fiscal 2021 hit $34.2 billion after surging 104% from the same timeframe in 2020.

Net income reached $2.8 billion in the second trimester, compared to a $780 million net loss a year ago, while diluted earnings per common share improved to $1.90 from diluted loss per share of $0.56 recorded in the second three-month period in 2020.

"There will be challenges, but we now expect full-year EBIT[earnings before interest and taxes]-adjusted in the range of $11.5 billion to $13.5 billion, compared with $10 billion to $11 billion previously," Chair and CEO Mary Barra said in her letter to shareholders.

The company's stock declined 1.97% in premarket trade following the release of the
report.

Breaking the News / MS