Magna International, Inc. (NYSE:MGA) reported first-quarter financial results Friday, delivering a significant earnings beat while adjusting its full-year revenue expectations.
Magna International operates as an automotive supplier in North America, Europe, the Asia Pacific, and internationally.
Earnings Beat On Margin Expansion
Magna reported quarterly earnings of $1.38 per share. This figure comfortably beat the analyst consensus estimate of $1.01. It also marks a sharp increase from the 78 cents per share reported in the same period last year.
Quarterly sales reached $10.381 billion, surpassing the projected $10.255 billion. This represents a steady climb from the $10.069 billion in sales during the prior-year quarter, according to Benzinga Pro data.
Full story available on Benzinga.com
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