GM reports 2Q profit of $891 million

by ryan | July 31, 2007 at 11:52 am

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The US car market seems to seeing a total reversal from previous trends. GM follows Ford's positive earnings report.

General Motors Corp. earned $891 million in the second quarter, a huge reversal from the $3.4 billion loss it posted in the same period last year and the third straight quarterly profit for the nation's largest automaker.

GM said Tuesday the latest results reflected improved sales in growing international markets.

Its results surpassed Wall Street expectations, and its shares rose more than 2 percent in midday trading.