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U.S. Sales Help Double Nissan’s Operating Profit
Nissan Motor Co. reports its operating profit in October-December 2014 zoomed to 156 billion yen ($1.3 billion) from 79 billion yen in the same period last year.
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Nissan Motor Co. reports its operating profit in October-December 2014 zoomed to 156 billion yen ($1.3 billion) from 79 billion yen in the same period last year. Net income grew 21% to 102 billion yen ($855 million).
Unit sales rose nearly 2% to 1.25 million vehicles. Quarterly revenue climbed 17% to 2.9 trillion yen ($24.5 billion).
Nissan's volume in the North America, the company's largest market, grew 9% to 441,000 units in the three-month period. Sales jumped 23% to 200,000 units in Europe. Demand dropped 11% to 345,000 in Asia. The company's sales in Japan slumped 16% to 126,000 units.
Favorable exchange rates contributed 42 billion yen ($351 million) through the first nine months of the company's fiscal year, which ends on March 31.
Nissan lowered its full-fiscal-year forecast by 150,000 units to 5.3 million vehicles, citing weak growth in China, Europe and Japan. The company expects revenue will rise 6% to 11.2 billion yen, operating income will expand 14% to 570 billion yen, and its net income will rise 8% to 420 billion yen.
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