Goodyear: 2Q Earnings Snapshot
AKRON, Ohio (AP) _ The Goodyear Tire & Rubber Co. (GT) on Friday reported second-quarter net income of $54 million.
On a per-share basis, the Akron, Ohio-based company said it had profit of 23 cents. Earnings, adjusted for asset impairment costs, were 25 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The tire maker posted revenue of $3.63 billion in the period.
Goodyear shares have fallen 27% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has declined 31% in the last 12 months.