UPDATE: General Motors Posts Lower Q4 Profit

General Motors Co

reported a 13% drop in its fourth-quarter profit. GM's quarterly profit declined to $1.04 billion, or $0.57 per share, versus a year-ago profit of $1.19 billion, or $0.54 per share. Its adjusted earnings came in at $0.67 per share. Its revenue climbed to $40.5 billion versus $39.3 billion. However, analysts were projecting earnings of $0.88 per share on revenue of $40.79 billion. GM shares fell 4.20% to $33.76 in pre-market trading.