GENERAL Motors' third-quarter net income fell 53 per cent compared with a year ago, as one-time expenses masked a strong performance in North America and a narrowed loss in Europe.
The company earned $US698 million ($A738 million) in the quarter, or 45 US cents per share.
That compares with $US1.48 billion, or 89 US cents per share, a year ago.
But without $US900 million in one-time items, GM earned $US1.7 billion, or 96 US cents per share, beating Wall Street's expectations.
Analysts polled by FactSet expected 94 cents per share.
Revenue rose 4 per cent to $US39 million, just short of Wall Street's estimate of $US39.2 billion.
Investors viewed the results favourably, and the company's shares rose 3 per cent to $US37.15 in trading before the opening bell.
GM's performance in North America was especially strong, with pretax earnings up 28 per cent to $2.2 billion on solid pickup truck sales and better pricing. GM rolled out updated versions of its Silverado and Sierra pickups in the spring.
The company's profit margin in North America - the percentage of revenue it gets to keep after expenses - was the highest in two years at 9.3 per cent.
In Europe, GM cut its loss by more than half to $US214 million, and revenue there rose year-over-year for the first time in two years.
One-time items included $US800 million to buy preferred stock from a health care trust for union retirees and a $US48 million impairment charge in South Korea.
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