GM fourth-quarter profit rises 2 per cent; adjusted profit misses Wall Street forecasts

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FILE - In this Monday, Jan. 13, 2014, file photo incoming 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 reports quarterly earnings on Thursday, Feb. 6, 2014 (AP Photo/Paul Sancya)

DETROIT – General Motors’ fourth-quarter profit rose 2 per cent 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 per cent 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 18 per cent, 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.

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