Gm Profits Beat Analysts’ Predictions

Wed., July 17, 1996

From Staff And Wire Reports

General Motors Corp. reported second-quarter earnings that were better than Wall Street expected, but its stock got caught in the broad ups-and-downs of the stock market Tuesday.

GM stock was unchanged at $47 on the New York Stock Exchange.

The world’s largest automaker said its profits fell 17 percent in the April-June period, but only because of $208.8 million in costs from last month’s spinoff of Electronic Data Systems Corp.

Earnings totaled $1.89 billion, or $2.63 a share, compared with $2.27 billion, or $2.39 a share, for the same period of last year. Without the costs of the EDS split, GM’s earnings from continuing operations were up slightly at $2.1 billion, or $2.65 a share.

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Gm Profits Beat Analysts’ Predictions

Jesse Tinsley

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