GM Shares Slip Despite Earnings Beat

Shares of General Motors(GM_) were lower Thursday despite the automaker reporting better-than-expected first-quarter adjusted earnings of 95 cents a share.

GM was trading at $31.82, down $1.23, or 3.7%, in trading Thursday morning.

Net earnings for the first quarter nearly tripled to $3.2 billion, or $1.77 cents a share, from $900 million, or 55 cents a share, in the same period a year earlier, driven by strong car sales in the U.S. and China.
While GM's adjusted earnings topped analysts' expectations of 91 cents a share, vehicle prices disappointed analysts.

Prices for GM's cars and trucks dropped in North America and were flat in Asia and Europe. The only region they improved in was South America.

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- Posted: 2011-05-05 15:05:58

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