Nissan swings to Q4 profit, beats estimates

2022.05.12 10:20

2023 Nissan Pathfinder is unveiled at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid

TOKYO (Reuters) – Nissan (OTC:NSANY) Motor Co said on Thursday it swung to a profit in the fourth quarter, as cost cuts and a sliding yen helped the Japanese automaker cushion the impact of rising material costs and reduced output due to supply chain disruption.

Nissan reported a 56 billion yen ($433.24 million) operating profit for the quarter ended on March 31, beating an average 38.3 billion yen profit forecast from eight analysts polled by Refinitiv.

It reported an operating loss of 19 billion yen in the same period a year earlier.

($1 = 129.2600 yen)

Source