February 8, 2018 / 12:21 PM / 5 months ago

Goodyear posts quarterly loss due to tax reform charge

Feb 8 (Reuters) - Goodyear Tire & Rubber Co, the biggest U.S. tire maker, reported a fourth-quarter loss on Thursday due to a $299 million charge related to changes in tax laws.

The company posted a net loss of $96 million, or 39 cents per share, in the quarter ended Dec. 31, compared with a profit of $561 million, or $2.14 per share, a year earlier.

However, revenue rose 8.8 percent to $4.07 billion, boosted by higher sales of its tires in the Americas region, its biggest market. (Reporting by Arunima Banerjee in Bengaluru; Editing by Martina D'Couto)

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