DETROIT (Reuters) – General Motors Co (GM.N) on Wednesday posted a lower quarterly profit that beat market expectations, and lowered its full-year 2018 earnings forecast citing rising steel and aluminum costs due to tariffs imposed by U.S. President Donald Trump’s administration.
FILE PHOTO: The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan, U.S., October 26, 2015. REUTERS/Rebecca Cook/File Photo
The Detroit automaker reported quarterly net income of $2.39 billion, or $1.81 a share, compared with $2.43 billion, or $1.89 a share, last year. Analysts on average had expected earnings of $1.78 a share.
Reporting by Nick Carey and Ben Klayman; Editing by Adrian Croft
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