TOKYO (Reuters) – Japan’s Nissan Motor roughly doubled its first-quarter profit on Wednesday, boosted by higher production and sales in North America and Japan and a weaker yen and it lifted its full-year outlook.
Operating profit for the April-June period came to 128.6 billion yen ($914.59 million), versus the 120.33 billion yen average forecast in a poll of 10 analysts by Refinitiv and a 64.9 billion yen profit the same period a year earlier.
The Yokohama-based automaker raised its full-year forecast by nearly 6% to 550 billion yen due to cost discipline and a favourable foreign exchange rate impact.
The forecast compared to a 517.42 billion yen average profit forecast in a poll of 18 analysts by Refinitiv.
Nissan shares closed down 1.2% at 656.8 yen earlier in the day, before the company reported earnings.
($1 = 140.6100 yen)
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(Reporting by Daniel Leussink; Editing by David Dolan)