AURORA, Ontario (AP) — AURORA, Ontario (AP) — Magna International Inc. (MGA) on Friday reported fourth-quarter profit of $203 million.
The Aurora, Ontario-based company said it had profit of 71 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were $1.69 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The automotive supply company posted revenue of $10.63 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $10.3 billion.
For the year, the company reported profit of $1.01 billion, or $3.52 per share. Revenue was reported as $42.84 billion.
Magna expects full-year revenue in the range of $38.6 billion to $40.2 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
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