GM’s $2.94B 1Q profit tops Street views, but revenue misses

LOS ANGELES (AP) — General Motors’ net income declined in the first quarter, as the automaker sold fewer cars and trucks worldwide, although higher prices helped boost revenue, especially in North America.GM late Tuesday reported net income of $2.94 billion, or $1.35 per share, versus a profit of $3.02 billion, or $2.03 per share, in the same quarter last year. Excluding one-time items, such as costs related to its Cruise autonomous vehicle subsidiary, GM’s earnings amounted to $2.09 per share. Analysts’ consensus estimate was for $1.

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