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 US automaker reported second-quarter net income of US$2.4 billion or US$1.60 per share, down from US$2.8 billion or US$1.74 per share a year earlier. Excluding one-time charges, the company reported earnings per share of US$1.89. Analysts had on average expected earnings per share for the quarter of US$1.69. (ChannelNewsAsai)