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GM swings to 3rd-qtr loss on charges from European unit sale
October 24, 2017 / 11:34 AM / a month ago

GM swings to 3rd-qtr loss on charges from European unit sale

DETROIT, Oct 24 (Reuters) - No. 1 U.S. automaker General Motors Co posted a quarterly net loss on Tuesday caused by charges related to the sale of its Opel unit in Europe to France’s PSA Group, but excluding the charges the results beat analysts’ expectations.

Detroit-based GM posted a third-quarter net loss of $2.98 billion, or $2.03 per share, compared with a profit of $2.77 billion, or $1.71 per share a year earlier. Excluding one-time charges, the company earned $1.32 a share, above analyst expectations of $1.14. (Reporting By Nick Carey; Editing by Jeffrey Benkoe)

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