The Goodyear Tire & Rubber Profit Drops 44% In Q2

(RTTNews) - The Goodyear Tire & Rubber (GT) announced earnings for second quarter that retreated compared to the same period last year.

The company said its earnings came in at $177 million, or $0.70 per share. This was down from $314 million, or $1.16 per share, in last year's second quarter.

Analysts had expected the company to earn $0.70 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.9% to $3.69 billion. This was down from $3.88 billion last year.

The Goodyear Tire & Rubber earnings at a glance:

-Earnings (Q2): $177 Mln. vs. $314 Mln. last year. -Earnings Decline (Y-o-Y): -43.6% -EPS (Q2): $0.70 vs. $1.16 last year. -EPS Decline (Y-o-Y): -39.7% -Analysts Estimate: $0.70 -Revenue (Q2): $3.69 Bln vs. $3.88 Bln last year. -Revenue Change (Y-o-Y): -4.9%