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GM posts flat profit, handily beats analyst expectations

GM posts flat profit, handily beats analyst expectations
FILE PHOTO: Flags wave behind a General Motors Corp sign in downtown in Detroit May 28, 2009. REUTERS/Mark Blinch/File Photo -
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Mark Blinch(Reuters)
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DETROIT (Reuters) – General Motors Co <GM.N> on Thursday posted a flat quarterly net profit that handily beat market expectations, helped by U.S. sales of high-margin pickup trucks, SUVs and crossovers.

The No. 1 U.S. automaker reported second-quarter net income of $2.42 billion (£2 billion) or $1.66 per share, compared with $2.39 billion or $1.66 per share a year earlier. Excluding one-time items, GM earned $1.64 per share, well above analyst expectations of $1.44.

(Reporting By Nick Carey; Editing by Nick Zieminski)

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