Nissan FY2014 First Half Results in $2.54B Profit
The first half of FY2014 has drawn to a close. We know, we know. Where does the time go? With half of the fiscal year in the books, Nissan has more than a few reasons to be content with its performance. More specifically, it has $2.3 billion reasons.
Operating profit for the first half of the fiscal year was $2.54 billion, and net revenue hit $49.95 billion, representing year-over-year increases of 18% and 8.2%, respectively.
The biggest number for Nissan was its net income, which rose 24.9% year-over-year to the impressive total of $2.3 billion.
“Nissan successfully overcame challenging market conditions in the first-half of the fiscal year, delivering solid revenues and profitability amid encouraging demand for our latest models,” said Carlos Ghosn, president and chief executive officer.
“Nissan is on track to deliver its full-year net income guidance, reflecting the benefits of our continued product offensive, financial discipline and synergies from our Alliance strategy.”
Nissan sold 2.58 million vehicles around the world from the beginning of April 2014 to the end of September 2014, representing a 5.8% year-over-year boost.
Despite this, Nissan revised its full fiscal year outlook by shaving off 200,000 units from its previous projection of 5.45 million units. Nonetheless, it anticipates ending the 2014 fiscal year with an operating profit of $5.14 billion and a net income of $3.89 billion.