Gm Beats Estimates Despite 86% Drop In Net Income

DETROIT (TheStreet) -- GM's first-quarter net income fell 86% as the company took a first quarter $1.3 billion charge for recalls associated with a faulty ignition switch. But the results still beat Wall Street estimates. Net income excluding items was $125 million, or 6 cents a share. Analysts surveyed by Bloomberg estimated 4 cents.

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