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DETROIT (AP) - General Motors Corp. said Monday it made a profit in the first quarter of this year thanks to a change in how it accounts for a health care agreement and other items.
GM said it earned $445 million, or 78 cents per share, in the first quarter, compared to a loss of $1.3 billion, or $2.22 per share, in the January-March period a year ago. It was GM's first quarterly profit since 2004.
Last month, the world's largest automaker reported a preliminary first-quarter loss of $323 million, or 57 cents per share. At the time, the company said the results could be revised because it was still talking to the Securities and Exchange Commission about how to account for an agreement that makes U.S. hourly retirees pay more for their health care.
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