GM Falls After First-Quarter Profit Misses Analyst Estimates
Russia, Brazil Struggles Sink GM Q1 Profit
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General Motors Co.’s first-quarter profit of $900 million missed estimates as struggles in Russia and Brazil undermined strong sales of light trucks in the U.S.
The company said that adjusted earnings per share almost tripled to 86 cents, short of the average analyst estimate for 97 cents. A year earlier, the company earned 29 cents on that basis, the largest U.S. automaker said in a statement. GM took a charge of about $400 million for restructuring its operations in Russia. Shares fell 3.3 percent Thursday to close at $35.92.