According to an article on The Detroit News, GM reports it earned $4.86B in 2012.
General Motors Co. said Thursday it earned $4.86 billion in 2012, down from a record $7.59 billion profit in 2011 mainly due to one-time tax accounting changes and a non-cash charge in Europe of certain assets that hit the carmaker’s bottom line.
The Detroit automaker reported its third consecutive yearly profit and earned $2.92 a share for the year, down from $4.58 a share the year before. During 2012, unfavorable special items cut earnings by half a billion, or 32 cents a share. The 2011 full year included a favorable impact of $1.2 billion in special items, or 70 cents a share.
