VAN BUREN TOWNSHIP, Mich. (AP) _ Visteon Corp. (VC) on Thursday reported second-quarter net income of $26 million.
On a per-share basis, the Van Buren Township, Michigan-based company said it had net income of 76 cents. Earnings, adjusted to account for discontinued operations and restructuring costs, came to $1.22 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The auto parts supplier posted revenue of $773 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $823.4 million.
Visteon shares have fallen 40 percent since the beginning of the year. The stock has decreased 28 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VC at http://www.zacks.com/ap/VC
Keywords: Visteon, Earnings Report
Automated Insights, source Associated Press News