GM reports lower-than-expected 4Q earnings
Updated On: Feb 06 2014 11:51:23 AM EST
General Motors' fourth-quarter profit rose 2 percent from a year ago, but the company fell short of Wall Street expectations.
GM rode record North American earnings to make $913 million, or 57 cents per share. That compares with $892 million, or 54 cents per share, a year ago. Revenue rose 3 percent to $40.5 billion
Excluding $200 million in one-time items, GM made 67 cents per share. But analysts polled by FactSet expected 88 cents on revenue of $40.8 billion.
For the full year, GM's earnings fell 18 percent, or $2.38 per share. Without one-time items it earned $3.18 per share.
GM also announced that 48,500 U.S. hourly workers will get up to $7,500 in profit-sharing checks.
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