AKRON, Ohio – AKRON, Ohio (AP) _ The Goodyear Tire & Rubber Co. (GT) on Wednesday reported second-quarter earnings of $202 million.
On a per-share basis, the Akron, Ohio-based company said it had net income of 75 cents. Earnings, adjusted for non-recurring costs and asset impairment costs, came to $1.16 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The tire maker posted revenue of $3.88 billion in the period, which met Street forecasts.
Goodyear shares have dropped 15 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6 per cent. The stock has declined roughly 4 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GT at http://www.zacks.com/ap/GT
Keywords: Goodyear, Earnings Report, Priority Earnings