News-Sentinel.com Your Town. Your Voice.
This Weeks Deal
Lush Hair Artistry
Half-Off  partial hi-light with Jennifer at Lush Hair Artistry ($90 value)
This Week Only
$45
50% off
Local Business Search
Stock Summary
Dow16408.54-16.31
Nasdaq4095.529.29
S&P 5001864.852.54
AEP51.73-0.77
Comcast49.10-0.07
GE26.560.44
ITT Exelis18.780.18
LNC48.070.44
Navistar34.00-0.79
Raytheon100.131.1
SDI18.00-0.9
Verizon47.600.5

GM 3Q profit falls 12 pct.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Wednesday, October 31, 2012 - 9:25 am

DETROIT – Growing losses in Europe and warranty costs in North America lowered General Motors' third-quarter profit by 12 percent.

But the company posted better-than-expected results in South America and internationally, and gave a rosier outlook for Europe. Its overall performance soundly beat Wall Street expectations, pushing up the stock price in Wednesday premarket trading.

GM said it earned $1.5 billion from July through September, down from $1.7 billion a year earlier.

The company earned 89 cents per share compared with $1.03 in 2011. Revenue grew 2.5 percent to $37.6 billion.

Excluding one-time items, GM made 93 cents per share, easily beating Wall Street expectations of 60 cents.

That drove GM shares up $1.05, or 4.5 percent, to $24.33 in premarket trading.