Goodyear profit beats Street on strong sales

Reuters

DETROIT (Reuters) - Goodyear Tire & Rubber Co showed a net profit of 42 cents per share on the highest sales of any quarter in company history, on strength in its home North American market.

Goodyear's first-quarter sales of $5.4 billion were up 27 percent from a year before.

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Its net income for the quarter of $103 million, or 42 cents per share, compares with a net loss a year ago of $47 million, or 19 cents per share.

Goodyear shares shot higher after its quarterly earnings report was issued on Friday, to $17.45, up 7.7 percent from its close on Thursday of $16.20.

(Reporting by Bernie Woodall, editing by Gerald E. McCormick)