Why Goodyear Tire & Rubber Company's Stock Just Crashed 11.1%

Shares of Goodyear Tire & Rubber (NASDAQ: GT) stock are down 11.1% as of 1:30 p.m. EDT.

If you guessed that earnings are to blame -- ding-ding-ding! -- you're right. Goodyear reported its Q2 2017 earnings this morning, and the news failed to measure up to Wall Street expectations. Heading into earnings season, analysts had hoped Goodyear would report at least $0.72 per share in "pro forma" earnings. Instead, Goodyear reported $0.70 -- and only $0.58 per share on a GAAP (generally accepted accounting principles) basis.

Sales also failed to live up to expectations, coming in below $3.7 billion when $3.75 billion had been expected.

Source: Fool.com