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Magna sales increase 13% in third quarter![]() Magna joint venture with a Chinese company ![]() Magna International has exceeded analysts' expectations Income Magna International (TSX: MG) were ahead by 13 per cent in the third quarter from U.S. $ 7.4 billion to U.S. $ 8.3 billion. The North America and Europe have both contributed to the revenue growth of the automobile business. However, the net benefit of Magna slid to U.S. $ 319 million or $ 1.39 per share. The quarter included restructuring charges of U.S. $ 33 million which subtracts 14 cents in earnings per share. At the same time last year, Magna had displayed a non recurrent element that had inflated its quarterly to U.S. $ 390 million or $ 1.66 per share profit. Magna has 312 factories and 87 development centers in 29 countries. ![]()
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