At the start of Q2 earnings season, investors looked for tariff-related impacts on profits. Major U.S. financial firms reported only limited effects—especially compared to the auto industry. General Motors (No.

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

For the fiscal year, as GM ( NYSE: GM) continues to deploy mitigation efforts to offset the impact of import tariffs, net income is expected to be within a range of $7.7B to $9.5B, or $8.25 to $10 per share versus $9.25 per share estimates. Adjusted EBIT is targeted for $10B to $12.5B versus estimates of $11.25B.