BUSINESS MEMO: GENERAL MOTERS EARNINGS

DETROIT -- General Motors Corp.'s strong performance in North America overcame the effects of last summer's strikes and weak results overseas to generate a record fourth-quarter profit of $1.8 billion, up 8 percent from the same period a year ago.

The world's largest automaker reports that it earned $2.61 a share, compared with $1.7 billion, or $2.33 a share, in the last three months of 1997. Revenues totaled $46.4 billion, down 2 percent from $47.1 billion a year ago.

For the year, GM earned $3 billion, or $4.18 a share, down 53 percent from the $6.3 billion, or $8.62 a share, earned in 1997. The decline largely reflected the cost of the strikes. Revenues for the year totaled $161.3 billion, down 6 percent from $171.2 billion in 1997.