U.S. pickup trucks, crossovers help GM swing to quarterly profit

U.S. pickup trucks, crossovers help GM swing to quarterly profit

General Motors Co. displays the new Chevrolet 2020 Silverado HD pickup truck at the GM Flint Assembly Plant in Flint, Michigan, U.S. February 5, 2019. REUTERS/Rebecca Cook

DETROIT (Reuters) – General Motors Co on Wednesday swung to a quarterly profit from a year-earlier loss as profitable pickup trucks and crossovers in the U.S. market, combined with cost-cutting, helped offset lower overall sales.

The No. 1 U.S. automaker reported fourth-quarter net income of $2.1 billion or $1.40 per share, versus a loss of $5.2 billion or $3.65 per share a year earlier. Excluding one-time items, GM earned $1.43 a share. Analysts polled by Refinitiv IBES had expected earnings of $1.22.

Reporting by Nick Carey and Ben Klayman in Detroit; Editing by Nick Zieminski

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