Why Magna International Stock Is Higher Today

Shares of auto-industry supplier Magna International (NYSE: MGA) were trading higher on Friday, after the company reported fourth-quarter earnings that beat Wall Street's expectations.

As of 1:15 p.m. EST, Magna's shares were up about 10.2% from Thursday's closing price.

Magna reported fourth-quarter and full-year 2020 earnings before the U.S. markets opened on Friday, and they were good: Net income was up 68% from a tough year-ago quarter, to $738 million, and adjusted earnings per share ($2.83) and revenue ($10.12 billion) both beat Wall Street's estimates.

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Source Fool.com