Magna: Q3 Earnings Snapshot
AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported third-quarter net income of $394 million.
The Aurora, Ontario-based company said it had net income of $1.37 per share. Earnings, adjusted for one-time gains and costs, were $1.46 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The automotive supply company posted revenue of $10.69 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $10.36 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGA at https://www.zacks.com/ap/MGA
