Nov 9 (Reuters) - Canadian auto parts maker Magna International Inc 's MG.TO MG.N profit topped analysts' estimates, helped by higher sales in North America, and the company raised its full-year sales forecast.
The company said it now expects 2017 total sales of $38.3 billion to $39.5 billion, compared with its previous forecast of $37.7 billion to $39.4 billion.
Magna, which also assembles cars under contract from motor vehicle manufacturers, counts General Motors Co (NYSE:GM) GM.N , Volkswagen AG VOWG_p.DE , BMW BMWG.DE and Ford Motor (NYSE:F) Co F.N as its biggest customers.
Magna said sales in North American, which makes up bulk of its total sales, rose 14.2 percent to $2.50 billion in the third quarter, lifting up its total sales by 7.3 percent to $9.50 billion.
On an adjusted basis, the company reported a profit of $1.37 per share, beating the average analyst estimate of $1.32, according to Thomson Reuters I/B/E/S.
Net income attributable to Magna was flat at $503 million for the quarter ended Sept. 30. 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.