DETROIT May 2 General Motors Co posted a
stronger-than-expected quarterly profit on Thursday as its North
American business was better and its loss in Europe was smaller
than Wall Street estimated.
Net income attributable to common stockholders fell to $865
million, or 58 cents a share, in the first quarter, compared
with $1 billion, or 60 cents a share, in the year-earlier
The latest quarter included a $162 million noncash charge
for the devaluation of the Venezuelan currency.
Excluding one-time items, GM earned 67 cents, topping the
analysts' estimate of 54 cents, according to a poll by Thomson
Revenue fell 2.4 percent from last year to $36.9 billion,
and was just above the Wall Street target of $36.6 billion.