Goodyear's first-quarter revenue reached $5.4 billion, up 27% year-on-year

The largest US tire maker Goodyear Tire Rubber Company (Goodyear Tire & Rubber Co.) recently said that the company's 2011 first quarter results swung to a record high revenues. According to data released by Goodyear, the company’s net profit for the quarter was US$103 million, and its revenue reached US$5.4 billion, a year-on-year increase of 27%, setting a record for the company’s single-quarter revenue.

According to relevant data, the total sales of the company’s tires reached 46.8 million in the quarter, up by nearly 7% year-on-year. In the first quarter, the company's sales reached 219 million US dollars.

Richard J. Kramer, Goodyear’s chairman and chief executive officer (CEO), said: “The improvement in North American performance is an important support for the company’s 2013 goals.”

It is reported that the company’s North American tire division’s revenue in the first quarter rose by 30% to US$2.3 billion. The tire sales in North America rose by 13%. In addition, the company’s European-Middle East-African regional business unit’s revenue rose 28%, Latin America rose 22%, and the Asia-Pacific region rose 14%.

In the same period of last year, Goodyear suffered a loss of 47 million U.S. dollars and revenue was 4.3 billion U.S. dollars.

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