The GM logo on the facade of the General Motors headquarters in Detroit, Mich. Reuters/Rebecca Cook/File Photo
General Motors Co. reported a 35 percent drop in second-quarter profit Tuesday as a $1.1 billion tariff hit weighed on earnings—but the company still exceeded Wall Street expectations and reaffirmed its full-year financial forecast.
The Detroit-based automaker said on July 22 that net income fell to $1.9 billion, or $1.91 per diluted share, down from $2.9 billion, or $2.55 per share, a year earlier. Adjusted earnings came in at $2.53 per share, ahead of the $2.34 average analyst estimate, but below the $3.06 reported in the same quarter of 2024. Revenue declined slightly to $47.1 billion from $48 billion.
