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GM Warns ‘Across the Board’ Inflation to Put a Damper on Profit
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
-Steve Man, Bloomberg Intelligence Global Autos and Industrials Analyst, discusses GM earnings. General Motors Co. raised its full-year profit forecast, but said the war in Iran is fueling higher-than-expected costs. The company now expects commodity inflation to set back adjusted earnings by as much as $2 billion this year, citing higher costs for aluminum, steel, transportation and logistics.
-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, recaps Spotify earnings and discusses whether Artificial intelligence is a threat to music. Spotify shares fell after the music streaming company forecasted operating income for the second quarter that trailed expectations.
-Ken Shea, Bloomberg Intelligence Senior Consumer Products Analyst, recaps Coca Cola earnings. Coca-Cola Co. reported organic revenue growth of 10%, topping the average of analyst estimates, and notching the company’s best organic growth in five quarters.
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