Dynamite News Japanese automaker Nissan posts surprise Q1 profit, raises full-year forecast
Japanese automaker Nissan Motor Co on Wednesday raised its earnings outlook for the year, helped by a weaker yen and favourable demand in the United States, after reporting a surprise first-quarter operating profit.
Tokyo: Japanese automaker Nissan Motor Co (7201.T) on Wednesday raised its earnings outlook for the year, helped by a weaker yen and favourable demand in the United States, after reporting a surprise first-quarter operating profit.
Nissan reported an operating profit of 75.68 billion yen ($688.6 million) for April-June, compared with a 153.93 billion yen loss in the same period a year earlier.
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Analysts on average had expected a loss of 42.72 billion yen, according to Refinitive SmartEstimates.
Nissan now expects an operating profit of 150 billion yen in the year ending March 2022.
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In May, the company had forecast that it would break even in the period. Analysts on average have since more than halved their expectations to a 112.5 billion yen profit. (Reuters)