You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Downtown banking to grow
    Another bank is opening teller lines in downtown Fort Wayne.First Financial Bank and city officials have scheduled an announcement for 10 a.m. today in the Courthouse Green across from the Anthon ...
  • Lincoln earnings rise 26%
    Lincoln National Corp. on Wednesday reported sec­ond-quarter earnings of $398 million, or $1.48 per diluted common share, a 26 percent increase from the $317 million, or $1.15 a sh ...
  • Economy rebounds with fast 4% growth
    WASHINGTON – The U.S. economy has rebounded with vigor from a grim start to 2014 and should show renewed strength into next year.That was the general view of analysts Wed­nesday after the g ...
Advertisement

General Motors posts $898M 4Q net profit

DETROIT (AP) — 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.

Advertisement