Goodyear Loss Narrows ?
Associated Press
Goodyear loss narrows in 1st.Q, Revenue Climbs
CLEVELAND --
Goodyear Tire & Rubber Co. reported sharply improved global sales but charges led by a Venezuelan currency devaluation dragged it to a loss for the first quarter.
CEO Richard Kramer(top left) says as markets around the world improve, the Akron tire maker is seeing the benefits of its actions like launching new products during an economic downturn. Its revenue jumped 21 percent. Its shares rose 3.3 percent to $14.51 in pre-opening trading. Goodyear reported Wednesday that it lost $47 million, or 19 cents a share, in the quarter ended March 31. It lost $333 million, or $1.38 per share, a year ago. Excluding the currency devaluation and other charges, Goodyear would have earned 18 cents a share. Analysts expected a 2 cent a share loss excluding charges. It says its sales rose to $4.3 billion from $3.6 billion.
Goodyear Tire & Rubber Co. reported sharply improved global sales but charges led by a Venezuelan currency devaluation dragged it to a loss for the first quarter.
CEO Richard Kramer(top left) says as markets around the world improve, the Akron tire maker is seeing the benefits of its actions like launching new products during an economic downturn. Its revenue jumped 21 percent. Its shares rose 3.3 percent to $14.51 in pre-opening trading. Goodyear reported Wednesday that it lost $47 million, or 19 cents a share, in the quarter ended March 31. It lost $333 million, or $1.38 per share, a year ago. Excluding the currency devaluation and other charges, Goodyear would have earned 18 cents a share. Analysts expected a 2 cent a share loss excluding charges. It says its sales rose to $4.3 billion from $3.6 billion.
posted by Stick a Fork in me, I`m Done ! @ Wednesday, April 28, 2010
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