(RTTNews) - Nissan Motor Co. (NSANF.PK) announced, on a TSE report basis - China JV equity basis, first quarter net income was 28.6 billion yen compared to 105.5 billion yen, a year ago. Operating profit declined to 1.0 billion yen from 128.6 billion yen. Revenue was 3.0 trillion yen compared to 2.92 trillion yen, last year.
Nissan said profit was impacted by increased sales incentives and marketing expenses to meet intense sales competition and optimize inventory, particularly in the U.S. Global sales remained even compared to the same period of the previous year at 787,000 units, the company noted.
On a TSE report basis - China JV equity basis, for fiscal 2024, the company now expects: net revenue of 14 trillion yen, revised from prior guidance of 13.6 trillion yen; operating profit to be 500.0 billion yen, revised from prior guidance of 600.0 billion yen; and net income of 300.0 billion yen, revised from prior guidance of 380.0 billion yen. The company projects retail sales of 3.65 million units, and production of 3.45 million units, for the full year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
