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updated: 2/6/2014 8:03 AM

GM reports lower-than-expected 4Q earnings

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  • General Motors CEO Mary Barra watches the North American Truck of the Year and Car of the Year awards at the North American International Auto Show in Detroit.

      General Motors CEO Mary Barra watches the North American Truck of the Year and Car of the Year awards at the North American International Auto Show in Detroit.
    Associated Press

 
Associated Press

DETROIT -- General Motors' 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 premarket trading.

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