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David Hoffman
As stated in Nissan press release, the net profit for the April-June quarter reached 3.76 billion yen ($24 million), in contrast to a loss of 115.76 billion yen during the corresponding period last year. Experts polled by Quick had, on average, predicted a deficit of 3.65 billion yen.
Operating profit reached 77.89 billion yen, in contrast to an operating loss of 79.12 billion yen from the previous year.
Revenue for the quarter rose by 9.5% to reach 2.96 trillion yen.
Nissan vehicle sales in the previous quarter dropped to 701,000 units, down from 707,000 units in the first quarter of the last fiscal year.
Throughout the reporting period, the company achieved an additional 60 billion yen in savings due to its Re:Nissan business recovery strategy, which involves workforce reductions and facility downsizing.
Nissan reaffirmed its prediction for the ongoing fiscal year, expecting 13 trillion yen in revenue, 200 billion yen in operating profit, and 20 billion yen in net profit. The sales projection has been reduced to 3.15 million from 3.3 million vehicles, mainly because of the worsening market conditions in China.
source: reuters.com
Operating profit reached 77.89 billion yen, in contrast to an operating loss of 79.12 billion yen from the previous year.
Revenue for the quarter rose by 9.5% to reach 2.96 trillion yen.
Nissan vehicle sales in the previous quarter dropped to 701,000 units, down from 707,000 units in the first quarter of the last fiscal year.
Throughout the reporting period, the company achieved an additional 60 billion yen in savings due to its Re:Nissan business recovery strategy, which involves workforce reductions and facility downsizing.
Nissan reaffirmed its prediction for the ongoing fiscal year, expecting 13 trillion yen in revenue, 200 billion yen in operating profit, and 20 billion yen in net profit. The sales projection has been reduced to 3.15 million from 3.3 million vehicles, mainly because of the worsening market conditions in China.
source: reuters.com
