AKRON, Ohio (AP) — AKRON, Ohio (AP) — The Goodyear Tire & Rubber Co. (GT) on Wednesday reported a loss of $249 million in its first quarter.
The Akron, Ohio-based company said it had a loss of 86 cents per share. Losses, adjusted for non-recurring costs, were 39 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 49 cents per share.
The tire maker posted revenue of $3.88 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $3.86 billion.
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