Aptiv, an auto parts provider, reported a better-than-expected Q4 profit due to increased demand for auto parts and software-enabled features.

Aptiv, a leading auto parts supplier to major automakers such as Toyota, BMW, and Detroit Three, surpassed Wall Street's expectations in Q4 2022. The strong demand for auto parts and increasing orders for software-heavy vehicles contributed to the company's success. Aptiv reported an adjusted profit of $1.40 per share for the quarter ending December 31, 2022, higher than the expected $1.33 per share. Its quarterly revenue reached $4.9 billion, a 6% increase from the previous year. Aptiv's CEO, Kevin Clark, anticipates continued growth and margin expansion in 2024.

January 31, 2024
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