OUCH! General Motors Posts A $800 Million Loss In 2nd Quarter

General Motors Co. reported a second-quarter income loss of nearly $800 million, a 132% year-over-year drop as a result of of the coronavirus pandemic, and the automaker said Wednesday it will end salary deferrals that it implemented during the pandemic.

Revenue totaled $16.8 billion in the second quarter, down 53% from the second quarter of 2019. GM burned through $7.8 billion to make it through the quarter. Despite the drop, GM still beat Wall Street expectations. In pre-market trading, GM shares were up more than $1.

Read Article

MDarringer - 7/29/2020 10:35:13 AM

-1 Boost

What will the poor, feckless gender token do now?