Aug. 4 at 2:32 AM
Nissan reported a stronger-than-expected fiscal first-quarter performance, posting operating profit of ¥78 billion (
$497 million) versus analyst expectations of just ¥6 billion, marking a sharp turnaround from the ¥79 billion loss recorded a year earlier. Revenue reached ¥3 trillion, broadly in line with forecasts, while the company maintained its full-year outlook for ¥200 billion in operating profit and ¥13 trillion in revenue.
Despite reaffirming guidance, Nissan lowered its annual vehicle sales forecast to 3.15 million units from 3.3 million, citing weaker market conditions, particularly in China. CEO Ivan Espinosa said aggressive cost-cutting, faster vehicle development, and improving execution in the U.S. and China are helping stabilize the automaker, although geopolitical tensions in the Middle East, supply chain uncertainty, and pricing pressure from Chinese EV manufacturers remain significant headwinds.
$NSANY