GM profit hurt by over $1B in tariffs — and shares tumble as impact expected to worsen
1. GM's Q2 earnings fell $1.1 billion due to tariffs, beating expectations. 2. Revenue dropped 2% year-over-year to approximately $47 billion. 3. Analysts anticipate a $4-$5 billion tariff impact on GM's bottom line. 4. GM plans to mitigate 30% of the expected tariff impact. 5. Sales of gasoline trucks and SUVs remain strong despite tariff challenges.