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Goodyear Tumbles After Earnings Miss

Investing.com

Investing.com - Goodyear Tire & Rubber tumbled downhill on Friday after a second-quarter earnings miss due to lower volume and a fall in sales.

Goodyear (NASDAQ:GT) fell 10.3% in midday trade.

Tire unit volume fell 4% to 37.4 million for the quarter, while original equipment unit volume was down 11% year over year. Second-quarter sales fell 5% from a year ago to $3.6 billion due to the lower volumes, as well as currency translation.

The company reported earnings per share of $0.23 on net income of $54 million, which was lower than expected.

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