GM fourth-quarter profit misses analyst expectations

General Motors has posted its fourth-quarter financial results, showing a two-percent gain in profit from $892 million to $913 million, however the numbers missed analyst expectations by a wide margin.

Bloomberg reports average analyst estimates of 87 cents per share, 30 percent higher than the company achieved. The discrepancy has been blamed on higher tax rates and restructuring costs, including the decision to pull GM’s Chevrolet brand out of Europe.

The company narrowed its European losses to $345 million for the quarter, better than analyst expectations. Despite the troubles in some markets, performance has remained strong in China and North America.

Analysts may be underwhelmed by GM’s 2013 results, but the company’s union workers will likely welcome the $7500 profit-sharing checks–up $750 from last year.

“Launches of some of the best vehicles in our history combined with significant improvements in our core business led to a solid year,” said CEO Mary Barra. “The tough decisions made during the year will further strengthen our operations.”