Nissan Posts Rise In Q3 Net Profit, Cuts Full-Year Forecast

Nissan Motor Co

reported a 7.7% rise in its net profit for the third quarter and lowered its full-year outlook. Nissan's quarterly net profit surged to Y106 billion ($1.35 billion), from Y98.4 billion, in the year-ago quarter. However, analysts were expecting a profit of Y91.42 billion. Its sales climbed 5.5% to Y2.4104 trillion from Y2.286 trillion. Nissan cut its net profit outlook for this fiscal year to Y320 billion, versus its prior forecast of Y400 billion. It also cut its sales forecast to Y9.815 trillion, from Y10.300 trillion. Nissan shares closed at $17.03 yesterday.