July 25, 2018 / 11:01 AM / 3 months ago

GM profit falls, higher commodity costs hurt 2018 outlook

DETROIT, July 25 (Reuters) - General Motors Co on Wednesday posted a lower quarterly profit that beat market expectations, and lowered its full-year 2018 earnings forecast citing rising steel and aluminum costs due to tariffs imposed by U.S. President Donald Trump's administration.

The Detroit automaker reported quarterly net income of $2.39 billion, or $1.81 a share, compared with $2.43 billion, or $1.89 a share, last year. Analysts on average had expected earnings of $1.78 a share. (Reporting by Nick Carey and Ben Klayman; Editing by Adrian Croft)

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