April 25 (Reuters) - U.S. tiremaker Goodyear Tire & Rubber Co’s quarterly profit more than halved on Wednesday, hit by higher raw materials-related costs and weaker demand.
The company’s net income fell to $75 million, or 31 cents per share in the first quarter ended March 31, from $166 million, or 65 cents per share, a year earlier.
On an adjusted basis, it earned 50 cents a share.
Revenue rose 3.5 percent to $3.83 billion. (Reporting by Arunima Banerjee in Bengaluru; Editing by Shailesh Kuber)