GM Shares Slip 2.12% After LG Energy’s Q2 Profit Miss at 113.3bn Won
GM•GM shares slipped 2.12% after LG Energy reported Q2 net profit of 113.3 billion won, missing analysts’ estimates. The profit shortfall raised investor concerns over potential cost pressures in GM’s electric vehicle battery supply chain.
1. LG Energy Q2 Profit Miss
LG Energy reported second-quarter net profit of 113.3 billion won, falling short of consensus estimates and marking its first earnings miss in several quarters.
2. GM Shares Decline
GM shares declined 2.12% on the day as investors digested the battery supplier’s earnings shortfall, sparking concerns about potential cost increases and supply constraints for its electric vehicle programs.
