UPDATED: 7/25/17 8:34 am ET – adds details
DETROIT — General Motors said its net income dropped 42 percent to $1.66 billion in the second quarter, primarily because of the pending sale and restructuring of its European operations.
The company recorded a loss of $770 million from discontinued operations, which include the sale of its Opel and Vauxhall operations to PSA Group of Europe. Excluding those costs, the company recorded a profit of $2.43 billion, down 11 percent from a record second quarter in 2016.
Revenue from continuing operations fell 1.1 percent to $37 billion, mostly due to lower volumes.
In North America, earnings before interest and taxes declined 7.2 percent to $3.48…
Read the full article at: http://www.autonews.com/article/20170725/OEM/170729869/gm-q2-earnings