Goodyear beats Street 2Q forecasts
AKRON, Ohio (AP) — The Goodyear Tire & Rubber Co. (GT) on Wednesday reported second-quarter earnings of $192 million.
The Akron, Ohio-based company said it had profit of 70 cents per share. Earnings, adjusted for non-recurring costs, were 84 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The tire maker posted revenue of $4.17 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $4.08 billion.
Goodyear shares have increased 3.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 2 percent. The stock has increased nearly 7 percent 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