Third quarter shows lower profits for Nissan Motor Co
Authored By Wion Web Desk
Published: Feb 09, 2017, 03:31 IST | Updated: Feb 09, 2017, 03:31 IST
Nissan Motor Co logo in a showroom
Story highlights
The company's operating profits were 1.46 billion USD, 267 million USD lower than a year ago
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.
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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 6.3billion USD.
(WION with inputs from Reuters)
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