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 - Copyright Mark Blinch(Reuters)

By Reuters

Published on 01/08/2019 - 14:34•Updated 10/05/2024 - 10:11

Comments

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.