You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Market Movers

Europe’s woes hurt tire maker

Goodyear said economic problems in Europe offset cost cuts and profits in North America.

John Harrelson/Getty Images

Goodyear said economic problems in Europe offset cost cuts and profits in North America.

Continue reading below

Shares of Goodyear Tire & Rubber Co. went flat as the Akron, Ohio, company’s third-quarter net income and revenue dropped on lower tire sales in Europe. The company’s results fell short of estimates as problems in Europe offset cost cuts and profits in North America. Executives said additional cuts are coming because of economic uncertainty. Goodyear reported net income of $110 million, or 41 cents per share, down from $161 million, or 60 cents, a year earlier. Revenue fell 13 percent as the slowing European economy cut tire sales. Analysts expected $5.87 billion.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week