General Motors Co. said Thursday it earned $1 billion or 60 cents a share in the first quarter, down more than 68 percent from the same three months a year ago, though the company marked its ninth consecutive profitable quarter.The first three months of 2012 included a net loss from goodwill impairment charges driven by pension accounting that cut net income by $600 million or 33 cents a share, GM said.
Analysts were expecting earnings per share of about 85 cents. In the first-quarter of 2011, the company earned $3.2 billion or $1.77 a share, but $1.5 billion or 82 cents of its earnings stemmed from one-time gains and selling its interest in parts supplier Delphi Automotive.
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