Nissan posts 78% Q3 profit drop, cuts annual forecast for third time

YOKOHAMA, Japan : Japan's Nissan posted a 78 per cent fall in third-quarter operating profit to 31.1 billion yen ($201.84 million) on Thursday, missing analysts' estimates, and cut its annual outlook for the third time.

The result compared with an average estimate of 63.2 billion yen in a poll of eight analysts by LSEG and a 141.6 billion yen profit in the same period a year earlier.

The automaker lowered its operating profit forecast by 20 per cent to 120 billion from 150 billion yen for the current financial year.

($1 = 154.0800 yen)