Nissan Q3 profit below expectations on yen strength, cost rise [Reuters]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Reuters
People walk past a Nissan Motor Co's showroom in Tokyo, Japan February 9, 2017. REUTERS/Toru Hanai TOKYO Nissan Motor Co ( 7201.T ) posted on Thursday a weaker-than-expected operating profit for the third quarter as higher marketing costs and a stronger yen dampened earnings. Japan's second-largest automaker posted an operating profit of 163.5 billion yen ($1.46 billion) for the October-December period, down from 192.56 billion a year earlier and lower than a median forecast of 170 billion yen from nine analysts polled by Thomson Reuters I/B/E/S/. The profit decline comes despite an improvement in domestic sales from a year earlier as a result of strong demand for the latest versions of its new Note compact hatchback and Serena van models which were launched last year. Nissan has also enjoyed brisk sales in North America, particularly due to strong
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