GOODYEAR Tyre's third-quarter net income fell 3 per cent as tyre sales fell around the world, but its adjusted earnings easily beat Wall Street expectations.
SHARES of the tyre maker rose 10 per cent in premarket trading on Wednesday.
Goodyear reported net income of $US161 million ($A174.2 million), or 58 cents per share, in the quarter ending September 30, compared with $US166 million, or 62 cents per share, in the same quarter a year ago.Adjusted to remove certain one-time items, the company earned 87 cents per share. Analysts expected 70 cents, according to FactSet.Revenue fell 6.9 per cent to $US4.7 billion from $US5 billion, and missed Wall Street forecasts. Analysts expected revenue of $US4.9 billion.The company said sales were hurt by unfavorable foreign currency exchanges.Sales in North America fell 6 per cent to $US2.06 billion. They fell 8 per cent to $US1.62 billion from $US1.75 billion in Europe, Middle East and Africa and fell 14 per cent to $US451 million in Latin America.Shares of The Goodyear Tyre & Rubber Co., based in Akron, Ohio, rose to $US24.12 in premarket trading.Anda sedang membaca artikel tentang
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