What was the primary driver of the increase in net income attributable to stockholders?

The significant increase in net income attributable to stockholders was primarily driven by the absence of losses from discontinued operations, which impacted the prior year's second quarter, compared to the current year's quarter.

How did the GM Financial segment perform in this quarter?

GM Financial showed strong performance, with net sales and revenue increasing to $3.485 billion from $2.986 billion in the prior year. Earnings before income taxes-adjusted also saw a substantial increase, indicating healthy growth in its financing operations.

What is the significance of the investment in GM Cruise?

The substantial investment in GM Cruise, including the issuance of preferred shares to SoftBank and a significant capital injection from GM, highlights the company's strategic focus on developing its autonomous vehicle technology and business for future growth.

Are there any significant impacts from ongoing legal or recall-related matters?

The filing mentions ongoing litigation and potential liabilities related to various recalls, including the ignition switch recall and Takata airbag inflators. While no specific material impact is quantified for this quarter's results, these remain significant contingent liabilities for the company.

GM 10-Q Quarterly Report Q2 FY2018 — Revenue, Net Income, EPS

Summary

General Motors Co. (GM) reported its second quarter 2018 financial results, showing a slight decrease in total net sales and revenue year-over-year, primarily driven by lower automotive sales in GM International. Despite the modest revenue dip, net income attributable to stockholders saw a significant increase, largely due to the absence of losses from discontinued operations that impacted the prior year's quarter. The company's financial performance in the current quarter was positively influenced by strong equity income from its automotive China joint ventures and robust growth in GM Financial's revenue and profitability. GM also made strategic investments, notably in its GM Cruise autonomous vehicle division, signaling a focus on future growth areas.

Financial Highlights

47 data points

Beta

Revenue

$36.76B

0.2% Gross Margin

Net Income

$2.39B

0.1% Net Margin

EPS (Diluted)

$1.66

Total Assets

$218.64B

Cash & Equivalents

$15.09B

Free Cash Flow

$3.03B

Financial Statements

Beta

Revenue	$36.76B
Cost of Revenue	$30.07B
Gross Profit	$6.69B
SG&A Expenses	$2.22B
Operating Expenses	$35.28B
Operating Income	$1.48B
Net Income	$2.39B
EPS (Basic)	$1.68
EPS (Diluted)	$1.66
Shares Outstanding (Basic)	1.41B
Shares Outstanding (Diluted)	1.43B

Key Highlights

1Total net sales and revenue for the quarter decreased slightly to $36.76 billion from $36.98 billion in the prior year's comparable quarter.
2Net income attributable to stockholders significantly increased to $2.39 billion in Q2 2018, up from $1.66 billion in Q2 2017, primarily due to the absence of losses from discontinued operations.
3Automotive net sales and revenue decreased to $33.275 billion from $33.998 billion, mainly impacted by lower sales in the GM International segment.
4GM Financial delivered strong results, with net sales and revenue increasing to $3.485 billion from $2.986 billion, and earnings before income taxes-adjusted growing significantly.
5Equity income from nonconsolidated affiliates, primarily Automotive China JVs, increased to $637 million from $530 million, reflecting strong performance in that region.
6GM Cruise received significant investment, issuing $900 million in preferred shares to SoftBank and investing $1.1 billion in the subsidiary, highlighting its strategic importance.
7The company's effective tax rate saw a slight decrease to 18.0% for the quarter, down from 18.0% in the prior year's comparable quarter.

General Motors Co Quarterly Report for Q2 Ended Jun 30, 2018

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions