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Goodyear posts 1Q loss of $58M

 Goodyear said the number of tires sold in North America edged lower.


Goodyear said the number of tires sold in North America edged lower.

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Shares of Goodyear Tire & Rubber lost some air after the Ohio company reported a $58 million first-quarter loss largely due to $132 million in Venezuelan currency charges. The loss was compounded by extreme US winter weather that hurt tire sales, the company said. The losses added up to 23 cents per share. It made $26 million, or 10 cents, a year ago. Adjusted earnings came in below Wall Street estimates of 60 cents. Revenue dropped 8 percent to $4.47 billion from $4.85 billion, just short of projections of $4.81 billion.

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