Advertisement
Singapore markets open in 6 hours 44 minutes

  • Straits Times Index

    3,144.76
    -38.85 (-1.22%)
     

  • S&P 500

    5,058.59
    -3.23 (-0.06%)
     

  • Dow

    37,830.59
    +95.48 (+0.25%)
     

  • Nasdaq

    15,899.63
    +14.61 (+0.09%)
     

  • Bitcoin USD

    62,803.19
    -1,003.61 (-1.57%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • FTSE 100

    7,820.36
    -145.17 (-1.82%)
     

  • Gold

    2,402.80
    +19.80 (+0.83%)
     

  • Crude Oil

    85.28
    -0.13 (-0.15%)
     

  • 10-Yr Bond

    4.6740
    +0.0460 (+0.99%)
     

  • Nikkei

    38,471.20
    -761.60 (-1.94%)
     

  • Hang Seng

    16,248.97
    -351.49 (-2.12%)
     

  • FTSE Bursa Malaysia

    1,535.00
    -7.53 (-0.49%)
     

  • Jakarta Composite Index

    7,164.81
    -122.07 (-1.68%)
     

  • PSE Index

    6,404.97
    -157.46 (-2.40%)
     

Magna: 2Q Earnings Snapshot

Associated Press
Updated

AURORA, Ontario (AP) _ Magna International Inc. (MGA) on Thursday reported second-quarter profit of $452 million.

The Aurora, Ontario-based company said it had net income of $1.42 per share. Earnings, adjusted for non-recurring costs, came to $1.59 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.

The automotive supply company posted revenue of $10.13 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $10.01 billion.

Magna expects full-year revenue in the range of $38.9 million to $41.1 million.

ADVERTISEMENT

Magna shares have climbed roughly 7% since the beginning of the year. The stock has dropped 18% in the last 12 months.

_____

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