General Motors says its fourth-quarter net profit nearly doubled as it made a dizzying array of accounting moves due to tax credits and devaluing European assets.
The company made $898 million, up from $468 million in 2011.
GM earned 54 cents per share compared with 28 cents a year ago. Revenue grew 3 percent to $39.3 billion.
The fourth-quarter profit included billions in one-time accounting gains and losses that ended up being a $100 million increase. Without it the company earned 48 cents per share. That was short of analyst estimates. They predicted 51 cents.
GM made $1.4 billion pretax in North America but lost $699 million in Europe.
For the full year, GM made $4.9 billion, or $2.92 per share. That was down from $7.6 billion in 2011.
Sunday, May 19 2013 12:01 AM EDT2013-05-19 04:01:16 GMT
It was supposed to be their big night, but prom turned into a big headache for teens from a local high school. Police showed up to crack down on an unauthorized limo service.
It was supposed to be their big night, but prom turned into a big headache for teens from a local high school. Police showed up to crack down on an unauthorized limo service.
Friday, May 17 2013 11:55 PM EDT2013-05-18 03:55:04 GMT
"We intend to build cars in North America for [the] North American market, build cars in Europe for the European market and build them in Asia for the Asian market," said Don Graunstadt.
"We intend to build cars in North America for [the] North American market, build cars in Europe for the European market and build them in Asia for the Asian market," said the CEO of North American Operations for the electric car company.
Friday, May 17 2013 10:19 PM EDT2013-05-18 02:19:58 GMT
It can creep up on you without you realizing it. One day you step on the scale and you're obese. That's what happened to a St. Clair Shores woman who never though she would lose the weight.
It can creep up on you without you realizing it. One day you step on the scale and you're obese. That's what happened to a St. Clair Shores woman who never though she would lose the weight.
Friday, May 17 2013 8:43 PM EDT2013-05-18 00:43:34 GMT
Sabrina Gianino was found dead with a cord around her neck inside a Grosse Pointe Park home early Thursday morning. The medical examiner has ruled her death a homicide.
Sabrina Gianino was found dead with a cord around her neck inside a Grosse Pointe Park home early Thursday morning. The medical examiner has ruled her death a homicide.
