Investing.com - Magna International reported second quarter earnings that missed analysts' expectations on Friday and revenue that topped forecasts.
The firm reported earnings per share of $1.07 on revenue of $12.03B. Analysts polled by Investing.com anticipated EPS of $1.2 on revenue of $11.5B. .
Magna International shares lost 0.83% to trade at $81.05 in intra-day trade following the report.
For the year, Magna International shares are down 20.81%, under-performing the S&P/TSX which is down 7.33% year to date.
Magna International follows other major Consumer Discretionary sector earnings this month
On Wednesday, Spin Master Corp reported second quarter EPS of $0.68 on revenue of $506.3M (NYSE:MMM), compared to forecasts of EPS of $0.4837 on revenue of $491.13M.
Aritzia earnings beat analyst's expectations on Thursday, July 7, 2022, with first quarter EPS of $0.35 on revenue of $407.91M. Investing.com analysts expected EPS of $0.3 on revenue of $375.56M
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