“DETROIT (Reuters) – General Motors Co on Thursday posted a weaker-than-expected fourth-quarter profit as its loss in Europewidened and the U.S. automaker was unable to hold vehicle prices in its core North American market.
GM completed its second full year as a public company since its fall 2010 initial public offering, which followed the bankruptcy restructuring and $50 billion U.S.-taxpayer bailout of the prior year.
Net income in the fourth quarter rose to $892 million, or 54 cents a share, compared with $472 million, or 28 cents a share, a year earlier.
Excluding several one-time items, GM earned 48 cents a share, 3 cents shy of what analysts polled byThomson Reuters I/B/E/S had expected….”
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