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Originally Posted by legion
Doesn't sound like it has much to do with cars...
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More from the Reuters article:
Some analysts noted an improvement in GM's global auto operations was at risk of being overshadowed by the charge. GM posted net income of $122 million from continuing auto operations after a loss of $455 million a year earlier.
GM also reported higher global vehicle sales than rival Toyota Motor Corp (7203.T) in the quarter.
Toyota, valued at about 10 times the market capitalization of GM, posted a quarterly profit of almost $4 billion earlier on Wednesday.
JP Morgan analyst Himanshu Patel said despite the "messy" third-quarter results, the performance of GM's auto business was "actually better than we expected."
In a note for clients, UBS analyst Rob Hinchliffe called the GM results "very ugly," but also noted that GM's auto business had done "modestly better" than expected.