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Magna International Inc. Reveals Retreat In Q1 Profit

Magna International Inc. (MGA) revealed a profit for first quarter that decreased from last year

The company's earnings came in at $364 million, or $1.22 per share. This compares with $615 million, or $2.03 per share, in last year's first quarter.

Excluding items, Magna International Inc. reported adjusted earnings of $383 M or $1.28 per share for the period.

The company's revenue for the quarter fell 5.3% to $9.64 billion from $10.18 billion last year.

Magna International Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $364 Mln. vs. $615 Mln. last year.
-EPS (Q1): $1.22 vs. $2.03 last year.
-Revenue (Q1): $9.64 Bln vs. $10.18 Bln last year.

-Guidance:
Full year revenue guidance: $37.3 - $38.9 Bln

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