Weakness at GMAC also hurts results, but overseas vehicle sales help company top analysts' forecasts.
The nation's largest automaker, General Motors Corp., announced a large first-quarter loss Wednesday, due in large part to struggles from its former finance wing GMAC and slumping U.S. car sales.
But the loss was narrower than expected and sales topped forecasts, helping to lift shares of GM (GM, Fortune 500) 3.8% to $22 in pre-market trading.
GM posted a net loss of $3.3 billion, or $5.74 per share, which was wider than the $42 million, or 7-cent-a-share loss from continuing operations in the same period last year.
Excluding one-time losses from GMAC and $731 million in bankruptcy support for auto parts manufacturer Delphi, GM lost $350 million, or 62 cents per share. Analysts polled by Thomson Financial - who generally exclude one-time events from their forecasts - were looking for a deeper loss of $1.60 per share.
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