TOKYO -- Mazda Motor Corp. sold fewer but more profitable cars and trucks in the April-June quarter. Net profits jumped sixteenfold from a year earlier. Sales fell 2.4 percent to 271,605 vehicles. But revenues rose 9.5 percent to 734.30 billion yen, or $6.37 billion at current exchange rates.
Operating profits jumped 29.7 percent to $256.9 million. Net profits surged to $57.4 million from $3.6 million a year earlier.
A favorable yen exchange rate accounted for nearly half the rise in revenues. A weak yen means Mazda books more yen revenues for every dollar it takes in on U.S. sales. The yen's weakness also padded operating profits by $75.5 million.
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