Mixed Results for GM’s Non-Auto Units in Quarter

General Motors Corp.’s key non-automotive businesses reported a mixed third quarter Wednesday, with record earnings for its information technology unit and a tripled gain for defense electronics but a slight drop in financial services.

Electronic Data Systems Corp. said earnings for the third quarter ended Sept. 30 rose to a record $167.3 million, up 15% from the $145.5 million earned a year earlier. Net attributable to GM Class E common stock was 35 cents, compared to 30 cents. Revenue totaled $2.06 billion, up 19% from last year’s $1.73 billion.

Dallas-based EDS attributed the improvement to strong growth in non-GM business, which included a number of large systems development and maintenance agreements with customers ranging from the Montgomery Ward retail chain to California’s health department.

GM Hughes Electronics Corp. said profit totaled $155.2 million, or 41 cents attributable to GM Class H common stock, compared to earnings of $38.2 million, or 10 cents attributable to GM Class H common stock, a year earlier. Revenue totaled $2.88 billion versus $2.75 billion, up 4.7%.

The defense electronics contractor attributed the improvement to stringent cost controls, stronger performances in electronics and telecommunications activities, and earnings from the missile business acquired from General Dynamics Corp. during the quarter.

General Motors Acceptance Corp., GM’s financial services arm responsible for the financing or leasing of about a third of all GM vehicles sold, earned $301 million in the quarter, down from $346 million the year before. The unit attributed the results partly to a higher effective tax rate.