Mexican Media Brands
Magna’s Net Income Jumps 47%
Magna International Inc. reports its net income surged to US$470 million in the third quarter of 2014 from $319 million in the same period last year.
#economics
Share
Magna International Inc. reports its net income surged to US$470 million in the third quarter of 2014 from $319 million in the same period last year.
Revenue for the giant Canadian supplier rose 6% to $8.8 billion. Adjusted earnings before interest and taxes jumped 36% to $605 million.
Magna's contract assembly business built 32,000 vehicles, down 5% year on year. But revenue climbed 9% to $740 million.
The company anticipates full-year sales in 2014 of $29.8 billion-$30.7 billion, with 60% of the total coming from North America.
RELATED CONTENT
-
MTU Research to Boost Fuel Economy ~20%
Researchers are using V2X communications and other methods to provide vehicles with a significant increase in fuel economy.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.