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.
