Nissan Q1 Net Profit Down 15%

Nissan Motor Co

reported a 15% drop in its net profit for the first quarter. Nissan's quarterly net profit fell to 72.28 billion yen ($926 million), versus Y85.02 billion, in the year-ago period. However, analysts were expecting a net profit of Y80.54 billion. Its sales climbed 2.6% to Y2.136 trillion from Y2.082 trillion, while operating profit declined 19.7% to Y120.68 billion versus Y150.37 billion. Nissan shares closed at $18.10 yesterday.