GM 1Q Profit Jumps on Truck, Crossover Sales

Industries Reuters

The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan October 26, 2015. REUTERS/Rebecca Cook (Copyright Reuters 2017)

General Motors on Friday reported a jump in quarterly net profit driven by strong sales of full-size trucks and crossovers in the United States and cost cutting.

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The No. 1 U.S. automaker reported a first-quarter net profit of $2.6 billion or $1.70 per share, up 33 percent from $1.95 billion or $1.24 per share a year earlier. Analysts had on average expected earnings per share of $1.48.

 

(Reporting By Nick Carey; Editing by Chizu Nomiyama)