Thndr Claps » U.S. Claps » Automotive 🚗 » GM hurt after reporting poor earnings for Q2 🤕
The ClapGM reported a 40% decrease in net income during Q2 in comparison to last year.The DeetsNet income in Q2 was $1.69 billion, significantly lower than the $2.84 billion last year. They reported revenue growth of 5%, reaching $35.76 billion in Q2.They reported earnings per share of $1.14 per share, less than the expected $1.23 per share. Why the lower poor earnings?GM was faced with an issue in shipping 100 thousand cars due to a shortage in spare parts. In addition to that, the global supply chain crisis as well as the shortage in microchips has led the business to slow down significantly.
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