AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported second-quarter net income of $379 million.
The Aurora, Ontario-based company said it had net income of $1.35 per share. Earnings, adjusted for one-time gains and costs, were $1.44 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The automotive supply company posted revenue of $10.63 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $10.41 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