Magna profit jumps on gains from acquisition
Nov 8 (Reuters) - Magna International Inc, one of the world's biggest auto parts manufacturers, said third-quarter profit nearly quadrupled on gains related to its purchase of the minority stake in its electric car business.
Net income attributable to Magna rose to $390 million, or $1.66 per share, from $102 million, or 42 cents per share, a year earlier.
The company, which also assembles complete vehicles, said sales rose 6.3 percent to $7.41 billion.
- Children's corpses reveal desperate attempts to escape Korean ferry |
- Ukraine's leaders say have U.S. backing to take on 'aggressors' |
- Obama reassures Japan, other allies on China as Asia trip begins |
- 'Bridgegate' scandal threatens next World Trade Center tower
- UPDATE 4-Children's corpses reveal desperate attempts to escape Korean ferry