Magna International Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Magna International Inc. (MG.TO) reported a profit for third quarter that Decreased from last year but beat the Street estimates.

The company's bottom line came in at $305 million, or $1.08 per share. This compares with $484 million, or $1.68 per share, last year.

Excluding items, Magna International Inc. reported adjusted earnings of $375 million or $1.33 per share for the period.

Analysts on average had expected the company to earn $1.25 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.8% to $10.462 billion from $10.280 billion last year.

Magna International Inc. earnings at a glance (GAAP) :

-Earnings: $305 Mln. vs. $484 Mln. last year. -EPS: $1.08 vs. $1.68 last year. -Revenue: $10.462 Bln vs. $10.280 Bln last year.

-Guidance: Full year revenue guidance: $41.1 - $42.1 Bln

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