General Motors says its second-quarter profit fell 41 percent as losses in Europe and South America cut into strong North American earnings.
The company says it earned $1.5 billion from April through June, after a $2.5 billion net income a year earlier.
GM earned 90 cents per share compared with $1.54 a year earlier. Revenue fell 5 percent to $37.6 billion.
The company beat Wall Street expectations. Analysts polled by FactSet expected earnings of 75 cents per share.
GM lost $361 million before taxes in Europe, compared with a $102 million profit a year earlier. Even North America showed a little weakness. Pretax profits fell nearly 13 percent to $2 million.
Thursday, May 23 2013 7:58 AM EDT2013-05-23 11:58:41 GMT
New U.S. Census Bureau estimates say Detroit's population remained just above 700,000 last year. The figures show Detroit lost residents between 2011 and 2012, but the decline was at a slower pace than in previous years.
New U.S. Census Bureau estimates say Detroit's population remained just above 700,000 last year. The figures show Detroit lost residents between 2011 and 2012, but the decline was at a slower pace than in previous years.
Thursday, May 23 2013 7:48 AM EDT2013-05-23 11:48:26 GMT
Detroit police say a 16-year-old boy has been shot in the chest on the city's southwest side. FOX 2's Roop Raj says emergency crews were called to the scene near Sharon and W. Vernor. Thursday morning.
Detroit police say a 16-year-old boy has been shot in the chest on the city's southwest side. FOX 2's Roop Raj says emergency crews were called to the scene near Sharon and W. Vernor. Thursday morning.
Wednesday, May 22 2013 11:44 PM EDT2013-05-23 03:44:19 GMT
Find out how you can help the victims of Monday's deadly tornado that ripped through the Oklahoma City suburbs, killing two dozen and flattening neighborhoods, schools and businesses.
Find out how you can help the victims of Monday's deadly tornado that ripped through the Oklahoma City suburbs, killing two dozen and flattening neighborhoods, schools and businesses.
Wednesday, May 22 2013 11:20 PM EDT2013-05-23 03:20:38 GMT
Neighbors said he threatened them with a shotgun, then opened fire wounding two people. Now one of the victims has said he's angry the man accused of pulling the trigger is already out of jail.
Neighbors said he threatened them with a shotgun, then opened fire wounding two people. Now one of the victims has said he's angry the man accused of pulling the trigger is already out of jail.
Wednesday, May 22 2013 10:39 PM EDT2013-05-23 02:39:42 GMT
The Republicans in Lansing are pushing a new bill that would base teacher salaries on student performance. But will merit pay really help kids get a better education? Some say the answer is no.
The Republicans in Lansing are pushing a new bill that would base teacher salaries on student performance. But will merit pay really help kids get a better education? Some say the answer is no.
Wednesday, May 22 2013 10:07 PM EDT2013-05-23 02:07:10 GMT
13 dogs were rescued from a house on Ewers in southwest Detroit. The three most emaciated dogs were taken to the VCA in St. Clair Shores. They are being held in isolation for at least a week.
13 dogs were rescued from a house on Ewers in southwest Detroit. The three most emaciated dogs were taken to the VCA in St. Clair Shores. They are being held in isolation for at least a week and being treated and screened for diseases.
Wednesday, May 22 2013 9:56 PM EDT2013-05-23 01:56:23 GMT
Children were literally screaming for peace. Elementary school students at Cesar Chavez Academy in southwest Detroit spoke out for themselves -- stop bullying and stop the violence.
Children were literally screaming for peace. Elementary school students at Cesar Chavez Academy in southwest Detroit spoke out for themselves -- stop bullying and stop the violence.
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