Bridgestone Reports Earnings Loss on Revenue Gain
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Bridgestone Corp. experienced an increase in revenue but a decline in earnings during the second quarter of 2024, the company reported Aug. 9.
The Japanese-based manufacturing company posted an adjusted operating profit of $740 million for the three months ending June 30. That compared with $830 million during the same time the previous year. The total revenue increased by 5.2% to $7.59 billion from $7.21 billion.
The Americas came in as the most profitable market segment with revenue increasing 9.3% to $3.86 billion from $3.53 billion. The adjusted operating profit increased to $440 million from $350 million. Japanese operations revenue decreased 3.2% to $2.03 billion from $2.10 billion. The adjusted operating profit decreased 3.2% to $280 million from $330 million.
The Europe, Middle East and Africa markets reported that their collective revenue increased 3.6% to $1.42 billion from $1.37 billion during the year-ago period. The adjusted operating profit decreased 62.2% to $14 million from $36 million. The Asia, Pacific, India and China markets reported that revenue decreased 4.1% to $890 million from $930 million.
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