Nissan reports a $24 million net profit for January-March, reversing a 115.8 billion yen loss from the prior year.
Nissan Motor Corp. posted a 3.8 billion yen ($24 million) net profit for the January-March quarter, recovering from a 115.8 billion yen loss in the same period last year. The turnaround was driven by cost-cutting measures and improved sales in key markets, including the U.S. and Japan.
Quarterly sales rose 9.5% to 2.96 trillion yen ($19 billion) from 2.7 trillion yen a year earlier. Despite the profit, Nissan faces challenges in China and the Middle East, where geopolitical tensions and competition have weighed on performance.
The automaker lowered its annual sales forecast to 3.15 million vehicles, down from an earlier projection of 3.3 million units, citing ongoing market disruptions.