UPDATE: Goodyear Tire Posts Higher Q2 Profit

Goodyear Tire & Rubber Co

reported a strong rise in its second-quarter net income. Goodyear Tire's quarterly net income surged to $181 million, or $0.67 per share, from $85 million, or $0.33 per share, in the year-ago period. Excluding one-time costs, it earned $0.76 per share, beating analysts' estimates of $0.48 per share. Its revenue dropped to $4.9 billion from $5.2 billion. Goodyear Tire shares gained 5.58% to $17.99 in pre-market trading.