The Goodyear Tire & Rubber Q4 Profit Increases, beats estimates

(RTTNews) - The Goodyear Tire & Rubber (GT) revealed a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $553 million, or $1.93 per share. This compares with $63 million, or $0.27 per share, in last year's fourth quarter.

Excluding items, The Goodyear Tire & Rubber reported adjusted earnings of $162 million or $0.57 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 38.0% to $5.05 billion from $3.66 billion last year.

The Goodyear Tire & Rubber earnings at a glance (GAAP) :

-Earnings (Q4): $553 Mln. vs. $63 Mln. last year. -EPS (Q4): $1.93 vs. $0.27 last year. -Analyst Estimate: $0.32 -Revenue (Q4): $5.05 Bln vs. $3.66 Bln last year.