Earnings Lowered, GM Changes Outlook

The Detroit News - November 9, 2011

After a strong start to 2011, GM is revis­ing the out­look for the year’s sec­ond half due to loss­es in Europe and South Amer­i­ca. The company’s $1.7 bil­lion third-quar­ter prof­it was ahead of ana­lysts’ esti­mates; prof­its were down about 15% from the same peri­od last year. GM now says fourth-quar­ter earn­ings will be flat over the pri­or-year peri­od, and it no longer expects to be at break-even in Europe at year’s end.