GM’s Q2 net loss: $15.5 billion. That number says it all. GM posted a disastrous Q2 EPS of -$11.21 (adjusted) vs. a -$2.62 consensus. Just as bad: Revenue fell to $38.2 billion vs. a $44.57 billion consensus.
GM, however, has mostly telegraphed these hideous results and shares only fell 7%-8% in the pre-market. With the stock already down 56% on the year, little shocks GM shareholders anymore.
Of most concern: The company burned more than $3 billion of cash from operations, and it’s “liquidity” dropped to $21 billion. Here’s to avoiding bankruptcy.
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