TOKYO: Japan's No. 3 automaker Nissan Motor Co posted a third quarter operating profit on Tuesday, beating analyst estimates for a loss, as it benefited from a rebound in demand for cars.
The automaker recorded an operating profit of 27.1 billion yen (US$258.71 million) in the October-December period versus a 22.7 billion yen profit a year ago. That compared with an average 43.57 billion yen loss estimate from seven analysts surveyed by Refinitive SmartEstimates.
The automaker also raised its full-year forecast and now expects an operating loss of 205 billion yen in 2021, having previously forecast a 340 billion yen loss.
That is better than an average forecast for a 230.1 billion yen loss this business year based on predictions from 19 analysts surveyed by Refinitiv SmartEstimate.
(Reporting by Eimi Yamamitsu; Editing by Himani Sarkar and Ana Nicolaci da Costa)