Today news
The same in other media
GM profit surges to $2.98B on sales of higher-margin trucks
Reading now: 402
DETROIT – General Motors’ first-quarter net income surged to $2.98 billion as strong U.S. consumer demand and higher prices offset production cuts brought on by a global shortage of computer chips.
Despite the semiconductor shortage, GM stuck with full-year pretax earnings guidance of $10 billion to $11 billion issued earlier in the year, with full-year net income of $4.50 to $5.25.
The company predicts a strong first half with a pretax profit of around $5.5 billion. Previously GM said the shortage would cost it $1.5 billion to $2 billion in earnings before taxes this year due to lost production.
The big profit increase was 12 times larger than the same period last year, when the start of the coronavirus pandemic forced automakers to
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
COVID-19
United States
|
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
|
India
|
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
|
Brazil
|
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
|
United Kingdom
|
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
|
Russia
|
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
|