TOKYO -- Mitsubishi Motors Corp. quickened the pace of recovery in the latest quarter, bouncing back to profitability on higher sales and lifting its full-year earnings outlook.
The Japanese automaker booked operating profit of 30.7 billion yen ($266.7 million) in the fiscal third quarter ended Dec. 31, reversing an operating loss of 4.1 billion yen ($35.6 million), the automaker said in a statement on Monday.
Mitsubishi also reported net income of 23.0 billion yen ($199.8 million) in the three-month period, compared with a net loss of 5.9 billion yen ($51.3 million) the same quarter a year earlier.