Canada’s auto parts maker Magna reports quarterly loss

Reuters | Nov 8, 2019 at 10:07 AM

Nov 8 (Reuters) - Canada's auto parts maker Magna International Inc reported a quarterly loss, hurt by a fall in global automobile production and a labor strike at General Motors Co, its biggest customer.

Net loss attributable to Magna was $233 million, or 75 cents per share, in the third quarter ended Sept. 30, compared with a profit of $554 million, or $1.62 per share, a year earlier.