General Motors subsidiaries: General Motors Corp.’s three...

General Motors subsidiaries: General Motors Corp.’s three major non-auto making units posted profits during the third quarter, a stark contrast from the forecast for the company’s automotive operations.

The company’s General Motors Acceptance Corp. financing operation reported a $346-million third-quarter profit, a record for any third quarter. A year earlier, GMAS reported a $293-million profit.

The company said lower borrowing costs helped push up profits. Profits from financing operations rose 13% to $293 million, and insurance operations’ profits increased 5.6% to $53 million.

The earnings came despite a decline in the number of financed or leased cars to 499,000 from 561,000 vehicles a year ago.

Dallas-based EDS reported a dramatic improvement in non-GM business in the third quarter. Nearly 52% of the computer services subsidiary’s revenue came from non-GM sources.

EDS third-quarter earnings of $145.5 million, or 61 cents per share of GM Class E stock, came on revenue of $1.7 billion. A year earlier, EDS earned $128.4 million, or 54 cents a share, on revenue of $1.5 billion.

GM Hughes said a decline in the U.S. automotive and flight-simulator markets and a restructuring of a British subsidiary reduced third-quarter earnings to $38.2 million, or 10 cents per GM Class H share.

During the third quarter of last year, the electronics and defense subsidiary earned $158.1 million, or 40 cents a share.

Revenue for the third quarter amounted to $2.7 billion this year, compared to $2.9 billion last year.