Nissan Motor Reports 20% Decline In FQ1 Net Profit

Nissan Motor Co Ltd NSANY reported a 20% drop in its net profit for the fiscal first quarter. Nissan posted its quarterly net profit at Y85.02 billion, down from Y106.65 billion, in the year-ago period. Analysts were expecting a net profit of Y41.95 billion. Its sales climbed 1.6% y/y to Y2.082 trillion from Y2.050 trillion. Its global vehicle sales surged 11% to 1.056 million vehicles. Nissan's operating profit fell 10% y/y to Y150.37 billion from Y167.91 billion. Nissan shares gained 0.92% to close at $21.93 yesterday.