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Benzinga
Benzinga
Business
Anusuya Lahiri

MYSTERIOUS: Magna raises outlook despite persistent industry challenges - You Need To See This

Magna MGA Magna International
Magna international-Photo by Grzegorz Czapski via Shutterstock

Magna International (NYSE:MGA) shares gained on Friday after the second-quarter fiscal 2025 earnings. The auto parts maker reported a quarterly revenue decline of 3% year-on-year to $10.63 billion, beating the analyst consensus estimate of $10.08 billion.

The decrease in sales was primarily due to a 6% drop in light vehicle production in North America and a 2% drop in Europe. This decline was partially offset by a 5% increase in China.

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