DETROIT (AP) — General Motors' net income fell 14 percent to $865 million in the first quarter, weighed down by losses in Europe and weaker earnings in North America.
GM earned 58 cents per share, compared with 60 cents per share in the January-March period a year ago.
Without one-time items, including a charge for currency devaluation in Venezuela, GM earned 67 cents per share, compared with analysts' forecast of 54 cents. Analysts typically don't take special items into account.
Revenue fell 2.3 percent to $36.9 billion, still slightly ahead of Wall Street's expectation of $36.6 billion, according to analysts polled by FactSet.
Worldwide sales rose 3.6 percent to more than 2.3 million cars and trucks.
GM earned $1.4 billion in North America, down 12.5 percent from a year ago.
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