General Motors earned its highest profit ever last year.
The 103-year-old company made $7.6 billion in 2011, up 62 percent from 2010.
Full-year revenue rose 11 percent to $105 billion.
North America led the way with a $7.2 billion pretax profit. But problems surfaced that could hurt future earnings. GM lost $700 million before taxes in Europe, and lost $100 million in South America.
GM'S fourth-quarter profit was flat with 2010. GM earned $500 million, or 28 cents per share. Revenue rose 3 percent to $38 billion. Before one-time items, GM earned 40 cents per share
Analysts expected earnings of 42 cents on revenue of $37.9 billion.
The company says union workers will get $7,000 profit-sharing checks.
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.