• search

GM expected to post loss ahead of deadline

Written by: Staff
|

Detroit, May 7: General Motors (GM) is expected to report a loss on Thursday, May 7 before the Government imposed deadline of June 1 to reach agreements to overhaul its operations and cut more than 40 billion dollars in debt.

The company is expected to post loss for the first quarter (Q1) in its last earnings report in time before the deadline for a restructuring.

The company's website stated that there was a 28 per cent slump in global vehicles sale in lieu with 47 per cent decline in North America.The quarter also saw GM's failure to win new federal backing.

Analysts, expect GM to post a first-quarter loss of 11.05 dollars per share before items. As per Reuter's estimates the revenue is predicted to decline to 21 billion dollars.

OneIndia News

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more
X