Nissan profits surge, raises annual forecast
Japanese auto giant Nissan on Wednesday said net profit in the fiscal third quarter rose 78 per cent as sales in Asia and China offset weak demand at home and the impact of a strong yen.
Nissan said its net profit in the three months ended December was 80.1 billion yen ($972 million), beating expectations for a 58.5 billion yen profit based on a survey of six analysts compiled by the Nikkei business daily.
The automaker, which is roughly 43 per cent owned by French automaker Renault, also hiked its annual profit forecast to 315 billion yen, up from a projected 270 billion.
Net profit in the nine months to December soared 434.5 per cent to 288.4 billion yen, the automaker said in an earnings statement.
Nissan shares closed up 2.52 per cent in Tokyo ahead of the earnings announcement.
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