AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported second-quarter earnings of $469 million.
On a per-share basis, the Aurora, Ontario-based company said it had profit of $1.72. Earnings, adjusted for non-recurring costs, came to $1.86 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The automotive supply company posted revenue of $10.98 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $10.74 billion.
Magna expects full-year earnings in the range of $6.70 to $7.30 per share, with revenue in the range of $41.3 billion to $42.5 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
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