DETROIT: General Motors Co on Thursday posted a smaller-than-expected loss in Europe that helped the No. 1 U.S. automaker post a better-than-expected second-quarter profit.
Net income attributable to common shareholders fell to $1.49 billion, or 90 cents a share, compared with $2.52 billion, or $1.54 a share, in the year earlier quarter. Analysts polled by Thomson Reuters I/B/E/S had expected 74 cents a share.
Revenue fell to $37.6 billion from $39.4 billion a year before as the stronger U.S. dollar hurt results. Analysts had expected $38.58 billion.
GM reported an operating loss in its Europe unit of $361 million, compared with a profit a year earlier of $102 million. However, that loss was smaller than some analysts had expected. RBC Capital Markets analyst Joseph Spak had expected a loss of $528 million.
Shares in GM were rose to $20.40 a share in premarket trading from its Wednesday closing price of $19.66 on the New York Stock Exchange.