Mazda Motor Posts Wider Quarterly Loss, Cuts Forecast

Mazda Motor Corp (OTC: MZDAY) reported a wider net loss in the October-December quarter.

Mazda Motor posted a quarterly net loss of Y72.9 billion, versus a year-ago loss of Y2.67 billion. However, analysts were expecting a net loss of Y15.48 billion.

The company posted an operating loss of Y32.7 billion, versus an operating profit of Y1.05 billion, in the year-ago period. Its sales dropped to Y459.1 billion from Y560.24 billion.

Mazda cut its outlook for the full year through March. It now projects a net loss of Y100 billion, versis a net loss of Y19 billion in the earlier forecast. It projects sales of Y2.050 trillion, down from Y2.160 trillion.