Goodyear beats 4Q profit forecasts

Staff Writer
Columbus CEO

AKRON, Ohio (AP) — The Goodyear Tire & Rubber Co. (GT) on Tuesday reported fourth-quarter earnings of $2.13 billion.

On a per-share basis, the Akron, Ohio-based company said it had net income of $7.68. Earnings, adjusted for non-recurring gains, were 59 cents per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The tire maker posted revenue of $4.36 billion in the period, which missed Street forecasts. Analysts expected $4.39 billion, according to Zacks.

Goodyear shares have fallen slightly more than 9 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. The stock has declined 3 percent in the last 12 months.

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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

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Keywords: Goodyear, Earnings Report, Priority Earnings