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Nissan lifts profit guidance after better-than-expected Q3

Adam Jeffery | CNBC

Nissan Motor lifted its operating profit forecast by 6.5 percent on Monday after better-than-anticipated results in the third quarter, citing brisk sales from new products, favorable exchange rates and cost cuts.

Japan's number two carmaker by sales said it now expects operating profit of 570 billion yen ($4.79 billion) instead of the previous forecast of 535 billion yen for the year to end-March. A poll of 29 analysts by Thomson Reuters I/B/E/S puts the profit of 589.9 billion yen.

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For the October-December quarter, operating profit nearly doubled to 156.0 billion yen, far better than the 121.42 billion yen estimated by 12 analysts.

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Growth was helped by a low base of comparison from the year-earlier quarter,when earnings were pushed down by increased spending on marketing and other costs.