Magna: 3Q Earnings Snapshot

AURORA, Ontario (AP) _ Magna International Inc. (MGA) on Thursday reported third-quarter profit of $554 million.

On a per-share basis, the Aurora, Ontario-based company said it had profit of $1.62. Earnings, adjusted for non-recurring gains, were $1.56 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.

The automotive supply company posted revenue of $9.62 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $9.83 billion.

Magna expects full-year revenue in the range of $40.3 billion to $41.4 billion.

Magna shares have decreased 12 percent since the beginning of the year. The stock has fallen nearly 9 percent in the last 12 months.

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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