General Motors falls 3.5% after Q4 earnings miss estimates

Investing.com - U.S. automaker General Motors reported worse-than-expected fourth quarter earnings ahead of Thursday’s opening bell, sending its shares lower in pre-market trade.

General Motors said adjusted earnings per share came in at USD0.67 in the final three months of 2013, below expectations for earnings of USD0.87 per share. The automaker’s fourth quarter revenue totaled USD40.5 billion, missing forecasts for revenue of USD40.9 billion.

2013 full-year net income attributable to common stockholders was USD3.8 billion, or USD2.38 per fully diluted share, down from USD4.9 billion, or USD2.92 per fully diluted share in 2012.

“Launches of some of the best vehicles in our history combined with significant improvements in our core business led to a solid year,” said GM CEO Mary Barra.

Following the release of the report, GM shares dropped 3.5% in pre-market trade.

Meanwhile, U.S. stock futures pointed to a higher open. The Dow Jones Industrial Average futures indicated a gain of 0.2% at the open, S&P 500 futures added 0.2%, while the Nasdaq 100 futures indicated a rise of 0.2% at the open.