GM reports weaker-than-expected profit
DETROIT |
DETROIT (Reuters) – General Motors Co posted a weaker-than-expected fourth-quarter profit as disappointing performance overseas offset strong results in North America, sending its shares down 3.1 percent in premarket trading.
Net income attributable to common shareholders was $500 million, or 28 cents a share, compared with $500 million, or 31 cents a share, in the year-earlier quarter.
Excluding one-time items, GM earned 39 cents a share, two cents below analysts’ average forecast in a poll by Thomson Reuters I/B/E/S.
Shares of GM fell to $24.15 in premarket trading from Wednesday’s closing price of $24.93 on the New York Stock Exchange.
(Reporting By Ben Klayman and Deepa Seetharaman; editing by John Wallace)
Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/E_6kMPvxr2Y/gm-idINDEE81F0AI20120216
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