TORONTO – Magna International reported a 20 percent jump in third-quarter profit on Tuesday, helped by higher sales of its auto parts.
Earnings rose to $159 million, or $1.44 per share, from $132 million, or $1.37 per share, a year earlier.
Analysts' average earnings forecast was $1.71 a share, according to Reuters Estimates.
Revenue rose to $5.38 billion from $4.78 billion for the same quarter last year.
The company said it expects consolidated sales for 2005 of $22.3 billion to $22.9 billion, up from $20.7 billion in 2004.
Shares of Magna are down about 16 percent so far in 2005. They closed at C$84.58 on the Toronto Stock Exchange on Monday.
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