General Motors (NYSE:GM) reported record quarterly earnings before charges for the third quarter, as strong demand for trucks in North America and improved profit margins in China overcame declining revenues.
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GM said it earned $1.50 a share in the quarter ended Sept. 30, up 55 percent from a year ago and well ahead of the $1.18 per share consensus among Wall Street analysts polled by Thomson Reuters I/B/E/S.
Including $1.5 billion in costs for expenses related to the settlement of a U.S. Justice Department investigation of the automaker’s mishandled ignition switch recall, GM said net income for the latest quarter was 84 cents a share, up from 81 cents a share.
(Reporting by Bernie Woodall and Joseph White; Editing by Chizu Nomiyama)