GM Reports Second Quarter Net Income of USD 1.2 Billion
OREANDA-NEWS. General Motors Co. (NYSE: GM) today announced second quarter net income attributable to common stockholders of USD 1.2 billion, or USD 0.75 per fully diluted share. These results include a net loss from special items that reduced net income by USD 0.2 billion, or USD 0.09 per fully diluted share.
In the second quarter of 2012, GM’s net income attributable to common stockholders was USD 1.5 billion, or USD 0.90 per fully diluted share.
Net income for the second quarter of 2013 included an increase in tax expense of USD 0.5 billion, or USD 0.29 per fully diluted share, compared to the second quarter of 2012.
Net revenue in the second quarter of 2013 was USD 39.1 billion, compared to USD 37.6 billion in the second quarter of 2012. Earnings before interest and tax (EBIT) adjusted was USD 2.3 billion, compared to USD 2.1 billion in the second quarter of 2012.
"We continue to perform well in the world's two most important markets, the U.S. and China," said Dan Akerson, GM chairman and CEO. "We also made further progress in our European business and saw the steady performance of our global brands Chevrolet and Cadillac. For the rest of the year, we'll focus on winning customers with high-quality vehicles at a compelling value."
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