On July 21, GM reported absolutely blowout Q2 earnings. The company delivered record earnings of $1.86 per share on revenue of $42.4 billion. Both numbers came in well ahead of Wall Street consensus estimates of $1.52 and $39.0 billion, respectively.
In addition to incredible 44 percent year-over-year earnings growth, GM upped its 2016 EPS guidance from $5.25–$5.75 to $5.50–$6.00.
In the week following the earnings report, GM’s stock is now down 2.3 percent.
Ford didn’t quite deliver the blowout earnings report that GM did. Ford delivered a strong revenue beat of $39.4 billion versus consensus estimates of $36.6 billion. However, EPS of $0.52 fell short of consensus forecasts of $0.60. While total revenue was up 6 percent year-over year, income fell 9 percent.
Ford’s stock is down 9.6 percent in Thursday’s session.
Incredibly, the post-earnings selloffs now have…
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