Goodyear Tire & Rubber Co.'s shares climbed 15.03% in the after-hours trading session on Thursday, surging after the company reported better-than-expected earnings results for the fourth quarter of 2024.
The tire maker posted adjusted earnings per share of $0.39 for Q4, surpassing analysts' consensus estimate of $0.31 by a significant 25.81%. However, quarterly sales of $4.95 billion, though beating the $4.87 billion forecast, declined 3.3% year-over-year.
The strong earnings performance, despite slightly lower revenues, drove investor optimism and sent Goodyear's stock soaring in the after-market trading hours. Market participants appear to be focusing on the company's ability to deliver solid profitability amid challenging macroeconomic conditions.
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