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Magna: Q3 Earnings Snapshot
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AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported third-quarter profit of $383 million.

The Aurora, Ontario-based company said it had profit of $1.44 per share. Earnings, adjusted for non-recurring costs and amortization costs, were $1.83 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The automotive supply company posted revenue of $10.06 billion in the period.

Magna expects full-year earnings in the range of $6.85 to $7.15 per share, with revenue in the range of $41.2 billion to $42 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

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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