×

Goodyear Tire profit falls 27.2 pct as sales slip

July 28 (Reuters) - Goodyear Tire & Rubber Co, the largest U.S. tire maker, reported a 27.2 percent fall in quarterly profit, partly due to lower sales in its top two markets.

The Akron, Ohio-based company's sales in the Americas slipped 2.9 percent to $2.03 billion, while sales in Europe, the Middle East and Africa (EMEA) fell 11.7 percent to $1.11 billion.

The company lowered its forecast for 2017 segment operating income to a range of $1.6 billion to $1.65 billion, from its previous forecast of $2 billion.

Net income fell to $147 million, or 58 cents per share, in the second quarter ended June 30, from $202 million, or 75 cents per share, a year earlier.

Revenue fell to $3.69 billion from $3.88 billion in the quarter. (Reporting by Arunima Banerjee in Bengaluru; Editing by Amrutha Gayathri)