Nissan Motor Turns To Profit In Q2; Lifts FY Earnings View, Cuts Revenue, Volume Forecast

Nissan Motor Co., Ltd. (NSANF.PK,NSANY.PK) reported Tuesday that its second-quarter net income attributable to owners of the parent was 54.1 billion yen, compared to last year's loss of 44.4 billion yen.

Consolidated operating profit was 63.4 billion yen, compared to loss of 4.8 billion yen a year ago.

Consolidated net revenue was 1.94 trillion yen, higher than prior year's 1.92 trillion yen.

Further, the company has again revised upward its fiscal year 2021 outlook.

For the year, the company now expects net income of 180 billion yen, compared to previous estimate of 60 billion yen. Operating profit is now expected to be 180 billion yen, compared to previous outlook of 150.0 billion yen.

Meanwhile, Nissan is now forecasting net revenue of 8.80 trillion yen, lower than earlier expected 9.75 trillion yen amid the continuing semiconductor supply shortage and the negative impact of rising raw material prices.

Nissan expects sales volume to decrease by 13.6 percent over the previous forecast to 3.8 million units.

In Japan, Nissan Motor shares were trading at 589.70 yen, down 0.25 percent.

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