GM posts 2nd-qtr operating profit, net loss widens

Newswire

DETROIT, July 26 (Reuters) - General Motors Corp. on Wednesday posted a larger-than-expected operating profit, but a wider quarterly net loss after writing down costs associated with buyouts for almost a third of its factory work force. The world's largest automaker posted a second-quarter net loss of $3.2 billion, or $5.62 per share, compared with a loss of $987 million, or $1.75 per share, for the year-ago quarter. But excluding charges, GM posted a profit of $2.03 per share. Analysts, ...

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