In this Monday, Jan. 28, 2013 file photo, cars move along an assembly line at the General Motors Fairfax plant in Kansas City, Kan. General Motors releases its fourth quarter of 2012 financial earnings, Thursday, Feb. 14, 2013. (AP Photo/Orlin Wagner, File)
In this Monday, Jan. 28, 2013 file photo, cars move along an assembly line at the General Motors Fairfax plant in Kansas City, Kan. General Motors releases its fourth quarter of 2012 financial earnings, Thursday, Feb. 14, 2013. (AP Photo/Orlin Wagner, File)
DETROIT (AP) ? General Motors says its fourth-quarter net profit nearly doubled as it made a dizzying array of accounting moves due to tax credits and devaluing European assets.
The company made $898 million, up from $468 million in 2011.
GM earned 54 cents per share compared with 28 cents a year ago. Revenue grew 3 percent to $39.3 billion.
The fourth-quarter profit included billions in one-time accounting gains and losses that ended up being a $100 million increase. Without it the company earned 48 cents per share. That was short of analyst estimates. They predicted 51 cents.
GM made $1.4 billion pretax in North America but lost $699 million in Europe.
For the full year, GM made $4.9 billion, or $2.92 per share. That was down from $7.6 billion in 2011.
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