General Motors FY2012, Fourth Quarter Results Miss Expectations

 @angeloyoung_a.young@ibtimes.com on February 14 2013 8:36 AM

General Motors Co. (NYSE:GM) reported on Thursday before markets opened that its earnings fell short of analysts’ average forecast, posting fourth-quarter profits of $1.2 billion, or 48 cents per share, on $39.2 billion in revenue, up from $37.99 billion in the same quarter last year.

Analysts polled by Thomson Reuters had expected earnings per share of 51 cents on $39.15 billion in revenue.

For the year, the world’s second-largest auto company reported earnings of $4.9 billion, or $2.92 per share. Revenue rose 1 percent to $152.3 billion from $150.3 billion.

Analysts expected full-year profit to be $5.6 billion, or $3.26 per share, on $151.5 billion in revenue.

“We recorded another solid year in 2012 as we grew the business, delivered a third straight year of profitability and took significant actions to put the company on a solid path for future growth,” said GM's CEO and chairman in the earnings release.

GM shares were down in 0.59 percent in pre-market trading in New York. 

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