Magna reports a 9% YOY increase in Q4 FY'23 revenue to $10.5 billion

Financial results
ATI News Team

Income from operations before income taxes increased to $310 million compared with $146 million in the same period last year

Leading auto component supplier Magna International Inc. in a press release on Feb.9 reported a year-over-year increase of 9% in its fourth-quarter fiscal year 2023 revenues to $10.5 billion. The net income was $271 million for the fourth quarter of 2023 compared to $95 million in the fourth quarter of 2022.

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