General Motors (NYSE:GM) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
General Motors announced earnings per share of $0.62 on revenue of $32.71B. Analysts polled by anticipated EPS of $0.5 on revenue of $32.48B. That with comparison to EPS of $1.41 on revenue of $34.88B in the same period a year before. General Motors had reported EPS of $0.05 on revenue of $30.83B in the previous quarter. Analysts are expecting EPS of $-0.73 and revenue of $25.64B in the upcoming quarter.
General Motors shares are down 41.91% from the beginning of the year , still down 49.26% from its 52 week high of $41.90 set on August 1, 2019. They are under-performing the S&P 500 which is down 11.6% year to date.
General Motors shares gained 6.11% in pre-market trade following the report.
General Motors follows other major Consumer Cyclical sector earnings this month
General Motors's report follows an earnings beat by Tesla on April 29, who reported EPS of $1.24 on revenue of $5.99B, compared to forecasts EPS of $-0.28 on revenue of $6.11B.
Volkswagen 10 Pref ADR had beat expectations on April 29 with first quarter EPS of $0.08 on revenue of $59.75B, compared to forecast for EPS of $0.07 on revenue of $58.53B.
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