The Goodyear Tire & Rubber Q1 Profit Increases, beats estimates

The Goodyear Tire & Rubber (GT) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $96 million, or $0.33 per share. This compares with $12 million, or $0.05 per share, in last year's first quarter.

Excluding items, The Goodyear Tire & Rubber reported adjusted earnings of $105 million or $0.37 per share for the period.

Analysts on average had expected the company to earn $0.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 39.9% to $4.91 billion from $3.51 billion last year.

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

-Earnings (Q1): $96 Mln. vs. $12 Mln. last year.
-EPS (Q1): $0.33 vs. $0.05 last year.
-Analyst Estimate: $0.21
-Revenue (Q1): $4.91 Bln vs. $3.51 Bln last year.

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