Nissan's Q3 operating profit more than doubles, outstrips expectations
Reuters
Published Feb 09, 2023 02:32AM ET
Updated Feb 09, 2023 08:03AM ET
TOKYO (Reuters) - Japan's Nissan (OTC:NSANY) Motor Co on Thursday posted a better-than-expected 155% jump in third-quarter operating profit, boosted by a weaker yen and cost management.
Operating profit for the three months ended Dec. 31 came to 133.1 billion yen ($1.01 billion), beating the average 104.79 billion yen profit estimated by nine analysts, according to Refinitiv data. That compared to a 52.2 billion yen profit in the same period a year earlier.
The Yokohama-based automaker maintained its forecast for an operating profit of 360 billion yen for the year to March 31, helped by a weaker yen that bolsters the value of overseas sales.
Nissan and Renault SA (OTC:RNLSY) said on Monday the Japanese automaker will invest a stake of up to 15% in the French firm's new electric vehicle unit, Ampere, as part of a long-anticipated agreement to revamp their alliance.
Nissan shares closed down 0.1% at 472.7 yen earlier in the day, before the company reported earnings.
($1 = 131.2600 yen)
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Written By: Reuters
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