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GM reports weaker-than-expected profit

Last Updated: Thursday, February 16, 2012 - 19:09

Detroit: 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 USD500 million, or 28 cents a share, compared with USD500 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.

Shares of GM fell to USD24.15 in premarket trading from Wednesday's closing price of USD24.93 on the New York Stock Exchange.

Bureau Report

First Published: Thursday, February 16, 2012 - 19:09
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