GM tops 4Q profit forecasts

AP News
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Posted: Feb 04, 2015 7:52 AM
GM tops 4Q profit forecasts

DETROIT (AP) — General Motors Co. (GM) on Wednesday reported fourth-quarter profit of $1.99 billion.

The Detroit-based company said it had net income of 66 cents per share. Earnings, adjusted for non-recurring costs, were $1.19 per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The automaker posted revenue of $39.62 billion in the period, which did not meet Street forecasts. Analysts expected $40.01 billion, according to Zacks.

GM shares have fallen nearly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined nearly 4 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Access a Zacks stock report on GM at http://www.zacks.com/ap/GM

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Keywords: General Motors, Earnings Report, Priority Earnings