GM Posts Record Second Quarter Revenue

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General Motors Corp. on Wednesday reported a net loss of $3.2 billion for the second quarter, due to special charges related to its buyout program and other aspects of its restructuring.

The loss of $5.62 per share in the April to June period compared with a loss of $987 million, or $1.75 per share, for the same period last year.

Without the one-time charges, GM's operating earnings were $1.2 billion, or $2.03 per share. That was significantly ahead of the 55 cents per share forecast by analysts polled by Thomson Financial.

The world's largest automaker posted record revenue of $54.4 billion, compared with $48.5 billion in the second quarter of 2005.