General Motors failed to meet Wall Street's earnings expectations in the second quarter despite strong profits and an increase in its guidance for the year.GM's second quarter earnings suffered due to $1.3 billion in warranty recall costs. This includes $800 million for the Chevrolet Bolt EV. Fire risks have caused the recall of the electric vehicle twice in the last year.Based on average estimates compiled and published by Refinitiv, here's how GM compared to Wall Street.Adjusted EPS: $1.97 vs. $2.23 expectedRevenue: $34.17 Billion vs. $30.9 Billion expectedOn Wednesday, the automaker raised its adjusted full year guidance to $11.5 billion to $13.5 billion. This is a rise of $10 billion to $11 trillion, or $4.50 - $5.25 per share.GM shares fell by 3% to $56.35 a piece in premarket trading.Unadjusted net income for the second quarter was $2.8 billion, compared to a loss in 2020's second quarter of $758 millions due to the coronavirus epidemic that caused rolling shutdowns at its factories. Pretax adjusted earnings of $4.1 Billion were reported by the automaker, an increase of $536 Million from the previous year.
