GM tops 2Q profit forecasts on trucks, SUVs

DETROIT — General Motors Co. today reported a net income of $1.1 billion or $0.67 per diluted share for the second quarter of 2015 compared with $0.2 billion in the second quarter of 2014.

Net revenue in the second quarter of 2015 was $38.2 billion, compared to $39.6 billion in the second quarter of 2014 that the company attributes to the negative net foreign currency exchange impact.

“The first two quarters of the year were strong as we fully capitalized on a robust North American industry and maintained our strength in China, despite the challenging conditions in that market,” GM Chief Executive Officer Mary Barra said in a statement. “We said our goal was to improve our earnings and margins this year, and we are on-plan. Consistent with that, we believe our results in the second half of the year will be even better than the first half, and we’re confident we will meet our 2016 targets.”

Big profits from trucks and SUVs helped GM overcome a sales slowdown in China, economic problems in Venezuela and payments to ignition switch crash victims.