DETROIT — The fragile European economy is dragging down General Motors’ profits, forcing its management to look at more cost cuts and ways to boost revenue in the struggling region.

GM said Wednesday that its third-quarter net income fell 15 percent from last year, pulled down by losses in Europe and South America and weak earnings in all areas except North America and China.

The company’s shares fell 9.5 percent to $22.67 in afternoon trading as GM executives were forced to back off an earlier prediction that the company would break even before taxes in Europe this year.