Nissan raises earnings forecast after 21% quarterly profit jump

PanARMENIAN.Net - Nissan raised its earnings forecast for the fiscal year after reporting a nearly 21 percent jump in quarterly profit, the Associated Press reports.

The Japanese automaker said Monday, Feb 9, that sales were strong in the U.S. and Europe and the cheap yen boosted overseas revenue.

Nissan Motor Co. reported a better-than-expected 101.8 billion yen ($856 million) net profit for October-December. Quarterly sales surged about 17 percent to 2.94 trillion yen ($24.7 billion).

The automaker said improved sales in the U.S. and Europe offset a decline at home in Japan.

Yokohama-based Nissan, which makes the Leaf electric car, the Altima sedan and Infiniti luxury models, expects a 420 billion yen ($3.5 billion) profit for the fiscal year through March, marking an 8 percent rise year-on-year.

Previously, it had projected a 405 billion yen ($3.4 billion) profit.