Goodyear Announces Profit Drops

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Goodyear Tire says its third-quarter earnings were off sharply from last year, when it got a one-time, $517 million lift from the sale of a subsidiary. Its latest results still beat Wall Street expectations.

Akron-based Goodyear Tire & Rubber Co. said Monday it earned $31 million, or 13 cents per share, in the three months ending September 30.
That's down from $668 million, or $2.75 per share, a year ago.

The latest earnings work out to 43 cents before one-time items. That beats the 33 cents a share forecast by Wall Street analysts.