General Motors ( No. 18 on the Fortune 500) reported its Q2 earnings results on Tuesday. The company’s net income fell 35% from the same period last year, as higher costs and uncertainty surrounding the Trump administration’s automotive tariffs resulted in a $1.1 billion hit to its bottom line.

General Motors (NYSE:GM) reported adjusted EPS of $2.53, topping analysts' $2.45 estimate, but revenue declined 1.8% year?on?year to $47.12 billion. The sales drop in key North American and China markets raised questions about demand resilience.

GM’s stock dropped more than 7% after carmaker reported$1.1 billion in tariff costs in the second quarter, despite mitigation efforts.