General Motors Quarterly Profit Falls

News | Mobility

General Motors Co on Tuesday reported a lower quarterly net profit from continuing operations due to lower vehicle sales and restructuring charges, but results beat Wall Street expectations.

The No. 1 U.S. automaker reported second-quarter net income of $2.4 billion or $1.60 per share, down from $2.8 billion or $1.74 per share a year earlier. Excluding one-time charges, the company reported earnings per share of $1.89.

Analysts had on average expected earnings per share for the quarter of $1.69.

(source: Reuters)