Nissan Motor Co., Ltd. rode sales gains in North American and Europe to a 17.6% increase in revenue and a 36.3% increase in net income during the first three months of its new fiscal year, which ended June 30.
The Japanese automaker reported net revenue of $23.9 billion (2.90 trillion yen) versus 2.47 trillion yen a year ago. Operating profit was $1.6 billion (193.7 billion yen), up from 122.6 billion yen, a 58% increase. Net income was $1.3 billion (152.8 billion yen) versus 112.1 billion yen in the prior year.
“Nissan delivered solid financial results in the first three months of the fiscal year due primarily to strong demand for our core products in North America and Europe,” said Carlos Ghosn, president and chief executive officer. “Given our on-going product offensive, the benefits of our Alliance strategy and continued cost-discipline, Nissan is on track to deliver its full-year financial guidance.” (more…)