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

By ALEX VEIGA
AP Business Writer

LOS ANGELES (AP) — General Motors’ net income declined in the first quarter, as the automaker sold fewer cars and trucks worldwide, though higher prices helped boost revenue, especially in North America. The Detroit company’s adjusted earnings topped Wall Street estimates, though its revenue fell short of analysts’ forecasts. GM 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. Revenue jumped nearly 11% to $35.98 billion, below the $36.89 billion analysts projected.