November 13, 2019 / 12:24 AM / 23 days ago

Nissan shares skid after profit plunge, outlook cut

FILE PHOTO: Workers are seen on the production line at Nissan's car plant in Sunderland Britain, October 10, 2019. REUTERS/Phil Noble/File Photo

TOKYO (Reuters) - Shares of Nissan Motor (7201.T) slid more than 4% in early trade on Wednesday, a day after the Japanese automaker reported a 70% plunge in quarterly profit and slashed its full-year forecast to an 11-year low.

Nissan’s bottom line was hit by a strong yen and falling sales and its poor performance highlights the turmoil at the automaker after the ouster of former boss Carlos Ghosn.

Reporting by Chris Gallagher; Editing by Himani Sarkar

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