GM Shares Are Taking A Hit After An Ugly Earnings Release

Mary BarraREUTERS/Mike CasseseGM CEO Mary Barra.

Shares of General Motors are sinking in pre-market trading following the release of quarterly earnings results that missed consensus Wall Street estimates on both the top and bottom lines.

Right now, shares are down more than 5%.

The company reported earnings per share of $US0.67 in the quarter ended December 31, below consensus expectations of $US0.87.

Revenues totaled $US40.5 billion, below the $US40.9 billion estimate.

The company said the earnings miss was largely because of restructuring costs, but also because of higher taxes.

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