Goodyear reports Q3 income of $36.5 million

Akron, Ohio--Goodyear Tire and Rubber has announced its third quarter results. As foreshadowed last week, the company has remained in profit, reversing the loss made in the same period a year ago.

The company increased tyre volume by four percent, to 57.4 million units, but revenues increased over 20 percent, to $4700 million, up from $3900 million a year earlier. Half of this increase was due to changes in financial reporting ($315 million) and currency effects ($105 million). Goodyear said in a statement, "The growth in sales reflects improved pricing and product mix; higher unit volume, primarily driven by improved sales of Goodyear-brand tires; and robust commercial tyre sales in virtually all of the company's markets.

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Press release from Goodyear