Nissan Posts Higher Q3 Profit, Lifts Forecast

Japan's

reported a rise in its third-quarter profit and lifted its net profit outlook for the full year. For the fiscal year ending March, the company now projects a net profit of Yen420 billion ($3.53 billion), versus earlier outlook of Yen405 billion. It now projects operating profit of 570 billion yen ($4.79 billion), versus prior forecast of 535 billion yen. However, the company lowered its forecast for global delivery by 150,000 vehicles to 5.3 million units. Nissan's quarterly net profit climbed 20.8% to Yen101.8 billion, while operating profit jumped to 156.0 billion yen, versus analysts' estimates of 121.42 billion yen. Its revenue jumped 16.7% to Yen2.94 trillion. In 2014, Nissan's U.S. sales jumped 11.1% to 1.39 million vehicles. The company's sales in Japan fell 15.7% in January to 56,865 vehicles, while sales in Russia jumped 45.1%. Carlos Ghosn, president and chief executive officer said, "We anticipate good full-year results as our product offensive and positive momentum in North America and Western Europe offsets volatility in other markets. Given these trends, along with the continuing impact of currency movements and cost controls, we are today revising upward our full-year financial forecast." Nissan shares fell 0.28% to close at $17.79 on Friday.