DETROIT (Business News) - General Motors Co (GM.N) reported a stronger-than-expected first-quarter profit on strong demand in North America and a smaller-than-expected loss in its troubled European operations.
Excluding one-time items related to the impairment of goodwill primarily in Europe, the No. 1 U.S. automaker reported a profit of 93 cents per share.
Analysts, on average, expected GM to earn 85 cents per share, according to Thomson Business News I/B/E/S.
Net income fell to $ 1 billion, or 60 cents a share, from $ 3.15 billion, or $ 1.77 a share, in the same quarter a year earlier.
Revenue for the quarter was $ 37.8 billion, up 4.4 percent from $ 36.2 billion a year ago.
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