Goodyear fourth-quarter profit beats estimate; revenue falls

Thu Feb 13, 2014 8:14am EST

Feb 13 (Reuters) - Goodyear Tire & Rubber Co, one of the world's largest tire companies, reported higher-than-expected fourth-quarter profit on Thursday, even as revenue slumped 5 percent and fell short of expectations.

The company posted net income available to common shareholders of $228 million, or 84 cents per share, during the fourth quarter of 2013, up from breakeven a year ago.

Excluding one-time items, Goodyear had an adjusted profit of 74 cents per share. The average analyst estimate was about 62 cents per share, according to Thomson Reuters I/B/E/S.

Revenue fell 5 percent from a year ago to $4.8 billion and missed expectations of almost $5 billion, hurt by lower third-party chemical sales in North America and a $102 million hit in unfavorable foreign currency translation.

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