Net income rose to $1.38 billion, or 81 cents a
share, from $698 million, or 45 cents a share, a year earlier.
Excluding one-time items, GM earned 97 cents a share, 2 cents
above what analysts polled by Thomson Reuters I/B/E/S had
expected.
The quarter included $300 million in special items for flood
damage sustained at the company's technical center outside
Detroit and the writedown of assets in Russia.
Revenue rose slightly to about $39.3 billion from $39 billion.
Analysts had expected $39.8 billion.
The No. 1 U.S. automaker reported a profit margin of 9.5 percent
in North America, the fifth consecutive quarter of
year-over-year growth. Excluding recall-related costs, the
second quarter's margin in the region was 9.2 percent.
GM said average transaction prices in the U.S. market and
vehicle sales in China had reached record highs in the third
quarter.
(Reporting by Ben Klayman and Bernie Woodall in Detroit; Editing
by Lisa Von Ahn)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
|
|