Nissan triples profit forecast on strong quarterly results

Nissan Motor Co reported on Tuesday a second quarter operating profit of 62.8 billion yen compared with a loss of 4.8 billion yen a year earlier as sales rebounded from a pandemic slump.

That result for the three months to Sept. 30 was better than an average 4.4 billion yen loss forecast based on estimates from 10 analysts, Refinitiv data shows.

The crisis-hit Japanese auto giant now projects 180 billion yen ($1.6 billion) in net profit for the fiscal year to March 2022, up from its earlier estimate of 60 billion yen.That prediction is higher than a mean 161 billion yen profit based on forecasts from 23 analysts, Refinitiv data shows.