General Motors quarterly profit falls

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General Motors quarterly profit falls

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DETROIT (Reuters) – General Motors Co <GM.N> 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 (1.84 billion pounds) 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.

(Reporting By Nick Carey; Editing by Nick Zieminski)
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