AKRON (dpa-AFX) - The Goodyear Tire & Rubber (GT) released a profit for its second quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $166 million, or $0.58 per share. This compares with $67 million, or $0.27 per share, in last year's second quarter.
Excluding items, The Goodyear Tire & Rubber reported adjusted earnings of $131 million or $0.46 per share for the period.
Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 30.9% to $5.21 billion from $3.98 billion last year.
The Goodyear Tire & Rubber earnings at a glance (GAAP) :
-Earnings (Q2): $166 Mln. vs. $67 Mln. last year.
-EPS (Q2): $0.58 vs. $0.27 last year.
-Analyst Estimate: $0.34
-Revenue (Q2): $5.21 Bln vs. $3.98 Bln last year.
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