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General Motors Loses Less Than Expected as China, Cost Cuts, and Pickup Sales Help

General Motors Loses Less Than Expected as China, Cost Cuts, and Pickup Sales Help

General Motors (NYSE: GM) said that it lost $758 million in the second quarter, much less than expected, thanks to resilient pickup-truck sales, strong results in China, and aggressive cost cutting before and during the quarter. On an adjusted basis, excluding one-time items, GM lost $0.50 per share in the second quarter. GM's revenue fell 53% from a year ago, to $16.8 billion, on lower shipments as its factories in North America were closed for 8 of the 13 weeks in the quarter.