ISTANBUL: Japanese automotive giant Nissan reduced its full-year outlook following %99 drop in its operation profits in the first quarter of 2024.
According to a press release on Thursday, Nissan’s operation profit went down from 128.6 billion yen ($824 million) to 1 billion yen year-on-year in the Jan-March period.
After this figure, the firm slashed its operation profit expectation for 2024 from 600 billion yen to 500 billion yen.
The firm’s revenues rose to 3 trillion yen from 2.9 trillion yen in the first quarter on a yearly basis but net incomes dropped from 105.5 billion yen to 28.6 billion yen, down %72.8.
The firm also dropped its forecast for net income from 380 billion yen to 300 billion yen for the end of the year.
Source: Anadolu Agency