BackNissan profit beats estimates as deliveries rise in China, US
The firm's net income rose 37% to 112.1 billion yen ($1.1 billion) in the April-June quarter, beating the 84.3 billion yen analyst's prediction
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Tokyo: Nissan Motor Co., Japan’s second- biggest car maker, reported profit that beat analysts’ estimate as deliveries rose in China and the US, its two biggest markets.
Net income rose 37% to 112.1 billion yen ($1.1 billion) in the April-June quarter, beating the 84.3 billion yen average of 14 analyst estimates compiled by Bloomberg, the Yokohama-based auto maker reported on Monday. The company maintained its profit forecast.
The profit increase may signal chief executive officer Carlos Ghosn is gaining traction after making dozens of executive changes in November to improve execution and cut incentives in US. Deliveries have out-paced Honda Motor Co. and Toyota Motor Corp. in US and China this year, as Nissan chases its targets of 8% operating margin and global market share.
“In terms of their full-year plan, they are pretty much on track," said Kota Yuzawa, an auto analyst at Goldman Sachs Group Inc. in Tokyo. “Their China sales are quite strong this year." Bloomberg
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