General Motors First Quarter Earnings Lower Due to Recalls

7:38 am
Thu April 24, 2014

General Motors First Quarter Earnings Lower Due to Recalls

Lead in text: 
GM earned $865-million in first quarter of last year
General Motors Co. said Thursday it earned $125 million in the first quarter, down 85.5 percent from the same three-month period in 2013 hit hard by a $1.3 billion charge for recalls. It was GMs 17th consecutive profitable quarter, despite the dramatic falloff. GMs earnings per share solidly beat analyst estimates at 6 cents.