Goodyear: 2Q Earnings Snapshot
AKRON, Ohio (AP) _ The Goodyear Tire & Rubber Co. (GT) on Friday reported second-quarter profit of $157 million.
The Akron, Ohio-based company said it had profit of 65 cents per share. Earnings, adjusted for non-recurring gains, came to 62 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The tire maker posted revenue of $3.84 billion in the period.
Goodyear shares have declined 35 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. The stock has dropped 41 percent in the last 12 months.