[Zef]

Originally Posted by frogger

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.

Yup...with a loss of 39 billions...!