General Motors profit misses forecasts

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Detroit - General Motors Co posted a weaker-than-expected fourth-quarter profit on Thursday as results in North America, Asia and South America disappointed.

Net income rose to $913 million, or 57 cents a share, from $892 million, or 54 cents a share, in the year-earlier quarter.

The quarter included about $200 million in special items related to the exit of the Chevrolet brand from Europe, the end of manufacturing in Australia, offset by a gain on the sale of equity in Ally Financial and other items.

Excluding the items, GM earned 67 cents a share. Analysts polled by Thomson Reuters I/B/E/S had expected 88 cents a share.

Revenue in the quarter rose 3 percent to $40.5 billion, below the $41.08 billion analysts had expected. - Reuters


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