AKRON, Ohio (AP) - The Goodyear Tire & Rubber Co. (GT) on Wednesday reported first-quarter net income of $224 million, after reporting a loss in the same period a year earlier.
AKRON, Ohio (AP) — The Goodyear Tire & Rubber Co. (GT) on Wednesday reported first-quarter net income of $224 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Akron, Ohio-based company said it had net income of 82 cents. Earnings, adjusted for non-recurring gains, came to 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The tire maker posted revenue of $4.02 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $4.07 billion.
Goodyear shares have decreased almost 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has remained stable over 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