Third quarter shows lower profits for Nissan Motor Co
Nissan Motor Co logo in a showroom. Photograph: (Reuters)
Japanese automaker Nissan Motor Co reached lower-than-expected operating profits for the third quarter.
The company's domestic sales are suffering because of higher marketing and selling expenses. Currency effects also played a central role.
Nissan Motor Co is Japan's second-largest automaker and from October to December 2016 it posted an operating profit of 1.46 billion USD, 267 million USD lower than a year ago when it touched 1.7 billion USD.
The third quarter profit is also lower than a median forecast of 1.5 billion USD that none analysts polled by Thomson Reuters I/B/E/S.
Nissan left its full-year net profit forecast unchanged at 4.6 billion USD, while it maintained its expectations for operating profit at 6.3 billion USD.
(WION with inputs from Reuters)