Reported 13 days ago
In the second quarter of 2024, Ford reported a revenue increase of 6.3% year-on-year, although it fell short in earnings estimates, leading to a 19.7% drop in share price. Meanwhile, General Motors outperformed expectations with a 7.2% revenue increase but still faced a slight decline in stock price. Winnebago struggled with a 12.7% decrease in revenue, while Rivian and Nikola showcased modest revenue growth but significant stock declines. Overall, the automobile manufacturers sector saw a collective revenue rise of 6.1% but an average 15.4% decrease in share prices since earnings announcements.
Source: YAHOO