Shares of Goodyear Tire Rubber (NASDAQ: GT) plunged as much as 16.7% in trading on Thursday after reporting second-quarter 2024 financial results. The stock closed down 15.9% on the day.

Revenue for the quarter was $4.57 billion, down from $4.87 billion a year ago. But the company swung from a loss of $208 million to a profit of $85 million, or $0.30 per share.

Earnings on an adjusted basis of $0.19 per share topped analysts' $0.14 estimate, but revenue was a different story. Wall Street was expecting $4.78 billion in revenue, which the company fell well short of.

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Source Fool.com