CLEVELAND » Goodyear Tire & Rubber Co. reported a $28 million second-quarter profit yesterday in contrast to a loss a year ago as demand for its tires increased worldwide, especially in the key U.S. market.
The biggest U.S. tire company and third largest globally said it sold more higher-end and Goodyear-branded tires, and that more than offset higher materials costs.
Goodyear, based in Akron, Ohio, reported net income of 11 cents a share for the April-June quarter.
In contrast the company had a net loss of $221 million, or 92 cents a share, a year ago.
Revenue rose 15 percent to $4.5 billion from $3.9 billion a year ago.
Motorola earnings soar 523 percent
NEW YORK » Motorola Inc. reported yesterday a sharply higher profit for the second quarter and stabilized its long revenue decline as its strategy of focusing on smart phones like the Droid bore fruit.
Co-Chief Executive Officer Greg Brown said he expects the company to post a revenue increase for the third quarter, which would be the first such increase in three years.
The Schaumburg, Ill., company reported net income of $162 million, or 7 cents a share, up 523 percent from $26 million, or 1 cent a share, a year ago. Revenue fell 1.5 percent to $5.4 billion from $5.5 billion.