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GM net income falls 14 percent to $865 million in 1Q

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DETROIT (AP) — General Motors' net income fell 14 percent in the first quarter, weighed down by losses in Europe and weaker earnings in North America.

GM earned $865 million, or 58 cents per share, compared with $1 billion, or 60 cents per share, in the January-March period a year ago. Excluding one-time items, GM earned 67 cents per share in the latest quarter. Analysts were expecting 54 cents, according to FactSet.

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