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General Motors Reports $1.2B Net Income For Second Quarter

|Includes:General Motors Company (GM)

Originally published at www.seclive.com

General Motors (NYSE:GM) announced its financial results for second quarter fiscal 2013, reporting $1.2B in net income, a 19% decrease from the same quarter last year of $1.5B while revenue increased 4% to $39.1B. GM has not earned a profit in Europe for over the last 13 years but posted progress towards profitability by reducing its operating loss from $394M a year ago to $110M second quarter. North America, GM's most successful business unit, saw an increase in its profitable pickup truck sales, reporting a 4% increase in its operating profit to $2B. Second quarter also marked the most important product launch the company has made this year through its redesigned 2014 Chevrolet Silverado and GMC Sierra trucks. General Motors CEO Dan Akerson remarked that the company is performing well in the U.S. and China, its two most important markets, as it also continues to make progress in Europe.

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Stocks: GM