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Nissan Q2 operating profit drops 21.6 pct, misses estimates
November 8, 2017 / 4:24 AM / a month ago

Nissan Q2 operating profit drops 21.6 pct, misses estimates

TOKYO, Nov 8 (Reuters) - Nissan Motor Co on Wednesday reported a 21.6 percent drop in operating profit for the second quarter due to weakness in its North American business.

Its operating profit came in at 128.5 billion yen ($1.13 billion) for the July-September period, down from 163.9 billion yen a year ago and below forecasts for 171.5 billion yen from eight analysts polled by Thomson Reuters I/B/E/S.

Nissan lowered its forecast for operating profit to 645.0 billion yen for the year to March 2018, from a previous forecast for 685.0 billion yen, to reflect the impact of improper final inspection procedures it had been following for vehicles produced in Japan for the domestic market. ($1 = 113.7600 yen) (Reporting by Naomi Tajitsu; Editing by Himani Sarkar)

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