DETROIT - General Motors' (GM) fourth-quarter profit rose 2 percent from a year ago, but the company fell short of Wall Street expectations.
GM rode record North American earnings
to make $913 million, or 57 cents per share. That compares with $892 million,
or 54 cents per share, a year ago. Revenue rose 3 percent to $40.5 billion.
Excluding $200 million in one-time
items, GM made 67 cents per share. But analysts polled by FactSet expected 88
cents on revenue of $40.8 billion.
For the full year, GM's earnings fell
22 percent to $3.8 billion or $2.38 per share. Without one-time items it earned
$3.18 per share.
GM also announced that 48,500 U.S.
hourly workers will get up to $7,500 in profit-sharing checks.
Shares fell 3.7 percent to $33.95 in