NEW YORK CITY -- General Motors (IW 500/5) on Thursday reported better-than-expected profit and revenue for the second quarter on strong US demand and shrinking losses in Europe.
Net income came in at $1.2 billion on revenue of $39.1 billion, compared with income of $1.5 billion and revenue of $37.6 billion during the year-ago period.
The 19% profit decline was due in part to one-time items, including the purchase of GM Korea shares, that reduced earnings per share by nine cents, the biggest U.S. automaker said.
Net revenue rose 4% from a year ago, to $39.1 billion. The average analyst estimate was for $38.4 billion.
"We continue to perform well in the world's two most important markets, the U.S. and China," Dan Akerson, GM chairman and chief executive said.
"We also made further progress in our European business and saw the steady performance of our global brands Chevrolet and Cadillac."
In North America, GM's biggest market, pre-tax income rose 4% to $1.98 billion.
Losses in Europe narrowed by more than a third to $110 million.
Results in Asia were generally weaker, with pre-tax profit down 64% at $228 million, excluding China.
GM's Latin America earnings more than tripled to $54 million.
GM shares were up 1.4% in pre-market trading.
Copyright Agence France-Presse, 2013
