Investing.com - Magna International reported first quarter earnings that beat analysts' expectations on Friday and revenue that topped forecasts.
The firm reported earnings per share of 1.64 on revenue of 12.38B. Analysts polled by Investing.com expected EPS of 1.45 on revenue of 11.54B. .
Magna International shares lost 100.00% to trade at 79.92 in pre-market trade following the report.
For the year, Magna International shares are up 0.6%, outperforming the Nifty 50 which is down 1.45% year to date.
Magna International follows other major Consumer Discretionary sector earnings this month
On Friday, April 8, 2022, MTY Food reported first quarter EPS of 0.68 on revenue of 140.49M, compared to forecasts of EPS of 0.6195 on revenue of 129.05M.
Exco Technologies earnings beat analyst's expectations on Wednesday, with second quarter EPS of 0.13 on revenue of 119.3M (NYSE:MMM). Investing.com analysts expected EPS of 0.12 on revenue of 112.05M
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