The fourth quarter of General Motors is on file, which closes with a sharp increase in net profits, thanks above all to a series of accounting operations linked to tax credits. However, the analysts were disappointed: the expected growth, held back by the European results, was in fact lower than expected.
The profit produced by the Detroit giant in the fourth quarter was $898 million, or 54 cents a share, versus $468 million (28 cents per share), same period last year. Profit, excluding extraordinary items, was 48 cents per share, versus 51 cents expected by analysts.
The company's turnover is growing, up 3% to 39,3 billion dollars, a figure higher than the consensus of 39,15 billion. Before taxes, General Motors earned $1,4 billion, but lost $699 million in Europe. The result for the entire year, on the other hand, was down, as far as profits are concerned, compared to the previous year: the reported profits they were 4,9 billion dollars against 7,6 billion in 2011.
