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The news sent GM's shares up more than 2 percent in pre-market
trading.
The earnings release comes at a time when Wall Street is
concerned that the U.S. auto industry is entering a downturn.
Automakers have reported declining sales for the past four
months in a row.
Analysts are concerned over GM's inventory of unsold vehicles,
which the automaker has built up ahead of downtime while it
prepares to launch new vehicles.
But as of the end of June, GM had 105 days' supply of cars,
above the 90-day supply it told investors to expect back in
April. The company said on Tuesday that dealer inventories in
the second quarter were up 273,000 versus the same period in
2016.
GM said it still expected to earn between $6 and $6.50 per share
in 2017.
The results for the quarter excluded the company's European
operations, which are being sold to Frances PSA Group <PEUP.PA>.
GM reported second-quarter net income of $2.4 billion 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.
On that basis, analysts had on average expected earnings per
share for the quarter of $1.69.
The company reported revenue for the quarter of $37 billion,
down from $37.4 billion a year earlier and below the $40.1
billion expected by analysts.
In pre-market trading, GM shares were up 2.3 percent from
Monday's close at $36.65.
(Reporting By Nick Carey; Editing by Nick Zieminski)
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