Earlier today, General Motors announced a second-quarter profit that not only flattened Wall Street Estimates, but also increased shares as much as 6 percent.

Citing benefits from growing overseas sales and cutting costs across the board, the Detroit-based company announced that its Q2 profit was $891 million, a refreshing change from last year's $3.4 billion loss. They plan to keep focusing on cost-reduction, which will be an important part of this summer's labor negotiations.

Reuters Estimates analysts had been expecting GM's adjusted earnings to be around $1.08/share, and were making forecasts of $0.50 - $1.64 based on that information. Instead, once non-recurring charges (such as those related to the bankruptcy of Delphi, a parts supplier) were removed, the company posted earnings of $2.48/share.

Brian Johnson, an analyst with Lehmen Brothers, said that GM's positive results were directly related to improved performance at GMAC, the financial company in which GM still owns a 49% share. As well, overseas sales were a key factor, representing 58% of the quarter's auto revenue.

While GM's total revenue fell $7.1 billion over all, its auto operations revenue increased $1.1 billion from last year.

General Motors is currently involved in a major restructuring campaign that includes closing 12 North American plants, and cutting 34,000 jobs.