GM 2Q earnings fall on sale of European unit

Detroit • General Motors’ second-quarter net profit fell more than 40 percent as the carmaker lost money on the pending sale of its European unit and warned it still faces billions of dollars in further losses to come. GM made net income of $1.66 billion, compared with a record $2.87 billion a year ago. But when the European loss and one-time items are stripped out, GM made $2.4 billion from continuing operations, or $1.89 per share. That’s down 12 percent from last year but still easily beat Wa...

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