General Motors Crushes Estimates

General Motors

Photo: AP

General Motors Co. just had its sixth consecutive profitable quarter. The company posted Q2 net income of $2.5 billion or $1.54 per diluted share, up from $1.3 billion, or $0.85 per diluted share a year ago.Expectations were for earnings of $1.20 per share.

Revenue increased to $39.4 billion for the quarter, a $6.2 billion bounce from Q2 2010.

Here’s the earnings breakdown around the world:

  • In North America, GM made $2.2 billion, up $600 million from a year ago. U.S. sales climbed 11% to 669,065 light vehicles.
  • In Europe, GM made $100 million, while its international operations earned $600 million.
  • In South America however it made $100 million, down from a year ago.

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