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Last updated: October 29. 2013 9:39AM - 177 Views
Associated Press



FILE - In this Friday, Oct. 11, 2013, file photo, Goodyear tires sit in the garage area during practice for the NASCAR Sprint Cup series auto race at Charlotte Motor Speedway in Concord, N.C. Goodyear reports quarterly results before the market open on Tuesday, Oct. 29, 2013.  (AP Photo/Mike McCarn)
FILE - In this Friday, Oct. 11, 2013, file photo, Goodyear tires sit in the garage area during practice for the NASCAR Sprint Cup series auto race at Charlotte Motor Speedway in Concord, N.C. Goodyear reports quarterly results before the market open on Tuesday, Oct. 29, 2013. (AP Photo/Mike McCarn)
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(AP) Goodyear Tire & Rubber Co. says its third-quarter profit rose 51 percent on strong performances in Latin America and North America.


The Akron-based tire maker said Tuesday that it earned $166 million, or 62 cents per share, for the July-September period.


Excluding charges, Goodyear earned 68 cents per share, beating the Wall Street estimate by 1 cent.


Revenue fell 6 percent, to $5 billion from $5.26 billion. Analysts polled by FactSet expected higher sales of $5.27 billion.


Goodyear sold more tires in North America and was aided by a shift in Latin America to higher-value replacement tires.


Goodyear shares dropped 73 cents, or 3.3 percent, to $21.32 in premarket trading. The stock has gained 60 percent this year.


Associated Press
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