General Motors Profit Falls on Pending Opel Sale

General Motors Profit Falls on Pending Opel Sale

General Motors (NYSE: GM) said that its second-quarter net income fell 42% to $1.66 billion, mostly due to the pending sale and restructuring of its operations in Europe.

On a continuing-operations basis (excluding Europe, in other words), GM earned $2.4 billion, down 11% from a year ago, on revenue of $37 billion. On that basis and excluding one-time items, GM earned $1.89 per share, beating the consensus $1.69 Wall Street estimate as reported by Thomson Reuters. 

GM is in the process of rolling out the all-new Chevrolet Equinox around the world. Early demand has been strong. Image source: General Motors.

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Source: Fool.com