Nissan quarterly operating earnings dropped 4.6 percent

Article by Christian Andrei, on November 2, 2011

Nissan Motor Co. disclosed that quarterly operating earnings dropped 4.6 percent to 159.3 billion yen or $2 billion for the period from July to September. The figure was better compared to the average forecast of 133 billion yen by 13 analysts surveyed in Reuters. The second-quarter net profit of the company was 98.4 billion yen, down 3.3 percent.

Nissan increased its worldwide sales estimates to 4.75 million vehicles for the financial year ending in March from the previous forecast of 4.6 million. The company also raised its forecast for its North Amercia sales to 1.35 million vehicles from 1.33 million.

For its sales in China, it also raised its sales forecast from 1.15 million to 1.25 million vehicles for the current financial year. The company is set to lead the race against competitors Honda Motor Co. and Toyota Motor Corp., which were adversely affected by the floods in Thailand and which have been sluggish in increasing sales in emerging markets.

Nissan was able to recover more quickly from a disruption in supply chain caused by the March 11 disasters in Japan because it had stocked up on components as preparation for the big boost in vehicle production.

Investors have also applauded the company's aggressive approach to grow in emerging markets like Russia and China, and to deal with currency losses by importing more components from other countries.

Currently, Nissan's sales are up by double-digit percentages in each key market except Japan. The company increased its yearly operating profit estimate to 510 billion yen for the year to March 31, 2012, from its initial estimate of 460 billion yen. The average forecast made by 25 analysts as surveyed by Thomson Reuters was 520 billion yen.

Topics: nissan, profit

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The 2018 model year could be an exciting year for fans and enthusiasts of the Chevrolet Corvette. This comes as the 2018 version of the Corvette is bound to feature...
by - January 19, 2017
As if seeing the future more than a decade from now, one of the top scientists in the world of robotics and automations is predicting that children born today won’t...
by - January 19, 2017
Ford has just recently unveiled the 2018 Ford Mustang, and as it turned out, the carmaker gave its beloved pony car a facelift. There have been mixed reactions about the...
by - January 19, 2017
The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries