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Company News

Magna International Q3 sales rise 7.3 pct

Nov 9 (Reuters) - Canadian auto parts maker Magna International Inc on Thursday reported a 7.3 percent rise in quarterly sales, helped by strong demand in North America.

Net income attributable to Magna was flat at $503 million for the third quarter ended Sept. 30.

However, on a per-share basis it rose to $1.36 from $1.29 a year earlier as the latest quarter saw a drop in the number of shares outstanding.

Sales rose to $9.50 billion from $8.85 billion. (Reporting By Akshara P in Bengaluru; Editing by Anil D’Silva)

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