Magna's second-quarter sales and profit beat expectations

Canadian auto parts supplier Magna's second-quarter total sales fell approximately 3% year-over-year to $10.631 billion, but pre-tax operating profit increased 16% year-over-year to $496 million. Based on its second-quarter financial results exceeding expectations, Magna raised its full-year sales forecast for 2025 to a range of $40.4 billion to $42 billion.