GM flipped to second-quarter profit

Newswire

DETROIT, July 31 (Reuters) - General Motors Corp on Tuesday said it flipped to a second quarter net profit, beating Wall Street estimates as it benefited from cost-cutting, a better mix of products and growing sales overseas. GM posted a net profit of $891 million, or $1.56 a share, compared with a net loss of $3.4 billion, or $5.98 a share a year earlier. Excluding one-time items, the company said it earned $2.48 a share. (Reporting by Jui Chakravorty)

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