Feb

Nissan (NSANY) third-quarter profit rises on higher sales abroad

Posted by admin Published in Nissan

Despite a troubled U.S. economy, a stronger yen and increased credit costs in the US., it looks like Japanese automakers are still benefiting from a booming car demand. After Honda Motor Ltd. (NYSE: HMC) announced early that week its profit rose 38.1% in the third-quarter, now it is Nissan Motor Co. (NASDAQ: NSANY)’s turn to prove its efficiency.

Japan’s second-biggest automaker reported that wee hours its third-quarter profit rose 26.6% to 132.22 billion yen ($1.24 billion), helped by higher sales in Asia. The company had posted a profit of 104.46 billion yen during the same period of final year. The company’s results plus show a respectable

18.2% jump in revenue to 2.770 trillion yen ($26.03 billion), following strong sales of the Rogue crossover vehicle in the U.S.

Although Nissan’s earnings numbers matched analysts’ predictions, the company is still showing some concerns by its further gains. The automaker stated that its bottom line could be affected by lower American consumer spending. A weaker dollar plus could dampen Nissan’s earnings by reducing the value of its foreign revenue.

Continue reading Nissan (NSANY) third-quarter profit rises on higher sales abroad

Original post by Eliza Popescu