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Nissan Cuts Profit Forecast After 70% Quarterly Plunge

“Nissan slashed its full-year operating profit forecast by 35% to 150 billion yen, which would be its worst full-year performance in 11 years” writes Min Read for reuters.com. Operating profit at Japan’s second-biggest automaker by sales came in at 30 billion yen ($275 million) in July-September versus 101.2 billion yen a year earlier.That compared with a mean forecast of 47.48 billion yen from nine analyst estimates compiled by Refinitiv.It now sees global retail sales at 5.2 million vehicles, down from a previous forecast for 5.5 million, bracing for its worst annual sales in six years.
 
Source: reuters.com



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