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Business

GM posts flat profit, handily beats analyst expectations

DETROIT: General Motors Co on Thursday posted a flat quarterly net profit that handily beat market expectations, helped

August 01, 2019

DETROIT: General Motors Co on Thursday posted a flat quarterly net profit that handily beat market expectations, helped by US sales of high-margin pickup trucks, SUVs and crossovers.

The No. 1 US automaker reported second-quarter net income of $2.42 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.

Copyright Reuters, 2019