General Motors today reported a net profit of $1.7 billion for the third quarter, as strength in North America and China was tempered by losses in Europe and South America.
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GM’s net income for the July-through-September period declined 15 percent from the third quarter of last year. It was GM’s seventh straight quarterly profit since exiting bankruptcy in July 2009.
Revenue grew 8 percent to $36.7 billion.
“GM delivered a solid quarter thanks to our leadership positions in North America and China,” GM CEO Dan Akerson said in statement. “But solid isn’t good enough, even in a tough global economy. Our overall results underscore the work we have to do to leverage our scale and further improve our margins everywhere we do business.”
