Goodyear: Q2 earnings snapshot

AKRON, Ohio — The Goodyear Tire & Rubber Co. today reported second-quarter net income of $67 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the company said it had profit of 27 cents. Earnings, adjusted for non-recurring costs, came to 32 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The tire maker posted revenue of $3.98 billion in the period.

Goodyear shares have risen 40% since the beginning of the year, while the S&P’s 500 index has climbed 18%. The stock has risen 64% in the past 12 months.