AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported third-quarter earnings of $484 million.
On a per-share basis, the Aurora, Ontario-based company said it had net income of $1.68. Earnings, adjusted for one-time gains and costs, came to $1.28 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The automotive supply company posted revenue of $10.28 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $10.57 billion.
Magna expects full-year revenue in the range of $42.2 billion to $43.2 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