Gm Reports Record Fourth-Quarter Profit

General Motors Corp.’s 1994 profits were the highest ever for the world’s largest automaker, and improved performance in its North American operations will produce profit-sharing checks for 365,000 employees.

GM’s 1994 net earnings were $4.9 billion, a 99 percent increase over 1993’s $2.5 billion, the company reported Tuesday. Earnings per share were $5.15, compared with $2.13. The previous earnings record was $4.86 billion in 1988.

Profits in the fourth quarter were $1.6 billion, or $1.74 per share, compared with $1.2 billion, or $1.28 per share, in October-December 1993.

GM’s North American Operations recorded its first profit in five years.