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Japan's Nissan unexpectedly posts operating profit in third quarter

Japan's Nissan unexpectedly posts operating profit in third quarter

FILE PHOTO: A visitor is seen at Nissan Motor Corp.'s showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato

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)

Source: Reuters

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