comscore Goodyear posts profit on global revenue boost | Honolulu Star-Advertiser
Every act of aloha counts. Click here to DONATE to the MAUI RELIEF Fund.

Goodyear posts profit on global revenue boost

Honolulu Star-Advertiser logo
Unlimited access to premium stories for as low as $12.95 /mo.
Get It Now

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.


Comments have been disabled for this story...

Click here to view ongoing news coverage of the Maui wildfires. Sign up for our free e-newsletter to get the latest news delivered to your inbox. Download the Honolulu Star-Advertiser mobile app to stay on top of breaking news coverage.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up