BRIEF-GM Q2 earnings per share $0.58 excluding one-time items

July 24 Thu Jul 24, 2014 8:13am EDT

July 24 (Reuters) -

* Q2 earnings per share $0.58 excluding one-time items

* Q2 net income $190 million, or 11 cents a share versus. $1.2 billion, or 75 cents a share year-ago

* Says one-time items total 47 cents a share in Q2

* Says special items include charge of $400 million for victims compensation fund linked to defective ignition switch

* Says cost of victims compensation fund uncertain and could rise by about $200 million

* Special items in quarter also include charge of $874 million to account for co's change in how it accounts for recall costs going forward

* Q2 revenue $39.65 billion versus $39.08 billion year-ago

* Q2 earnings per share view $0.59, revenue view $40.59 billion -- Thomson Reuters I/B/E/S

* Says $1.2 billion in recall costs and $200 million in restructuring costs included as part of business, not one-time items

* Says Q2 profit excluding special items and the $1.2 billion in recall costs would have been $1.7 billion, or $1.02 a share

* Says Q2 N. American operating earnings fell to $1.385 billion from $1.976 billion last year

* Says N. American earnings include the impact of $1 billion in recall related costs

* Says Q2 operating loss in Europe widened to $305 million from a loss of $114 million year-ago

* Q2 international operations operating earnings rose to $315 million from $232 million year-ago

* Says Q2 operating loss in S. America was $81 million versus profit of $54 million year-ago

* GM CFO declined to say what went into determining the victims compensation fund total other than it was based on actuarial data

* GM CFO says company expects business in south america to improve slightly in the second half of the year

* GM says ended quarter with total automotive liquidity of $38.8 billion

* GM CFO says company remains on track to be profitable in Europe by mid decade

* Reaffirms company on or ahead of plan to deliver results promised earlier this year for modestly better adjusted earnings excluding effects of recall Source text: bit.ly/1peITH9 Further company coverage: