General Motors (GM) has reported a net income of $1.5bn, or $0.89 earnings per share, for the third quarter of 2012, compared to $1.7bn, or $1.03 earnings per share, for the same period in 2011.

For the third quarter of 2012 the company's revenue increased to $37.6bn, compared to $36.7bn for the same period last year.

Earnings before interest and tax (EBIT) adjusted was $2.3bn for the quarter, compared to $2.2bn for the same period prior year.

GM North America (GMNA) reported EBIT-adjusted of $1.8bn for the quarter, compared to $2.2bn for the same period a year ago.

GM Europe (GME) reported an EBIT-adjusted of $0.5bn, compared to $0.3bn in the corresponding year period.

The company said that it expects GME's EBIT-adjusted for 2012 to be in a range of $1.5bn to $1.8bn, depending on the level of restructuring activity in the fourth quarter.

GM chairman and CEO Dan Akerson said, "We are going to keep playing offense with growth products like the Chevrolet Onix, Opel Mokka and Cadillac ATS and continue to systematically address business risks."