GM Hughes Electronics Corp. on Wednesday reported second-quarter earnings of $201.1 million, or 58 cents per share of General Motors Class H common stock. That contrasts with a loss of $627.8 million, or $1.49 a share, in the same period last year. The 1992 profits were depressed by a pretax restructuring charge of $1.2 billion. The Los Angeles-based electronics contractor, which is a General Motors Corp. subsidiary, reported revenues of $3.3 billion, up from $3 billion in the second quarter last year. C. Michael Armstrong, chairman and chief executive, attributed the increases to growth in the company's automotive electronics and missile areas.