February 6, 2019 / 6:42 AM / 6 months ago

Mazda raises outlook, quarterly profit falls less than expected

The logo of Mazda Motor Corp. is displayed at the company's news conference venue in Tokyo, Japan May 11, 2018. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Mazda Motor Corp raised its annual earnings forecast on Wednesday after third-quarter operating profit fell less than expected despite slowing sales in China.

Mazda said it now expected a full-year operating profit of 80 billion yen ($728.9 million) rather than a previous forecast of 70 billion yen.

Its third-quarter operating profit fell 6 percent from a year earlier to 28.7 billion yen. But that was better than the market’s median forecast of 17 billion yen, according to estimates compiled by Refinitiv.

Reporting by Naomi Tajitsu; Editing by Stephen Coates

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