Nissan reports 70% Q2 profit slump, misses estimates

YOKOHAMA, Nov 12 (Reuters) - Nissan Motor Co Ltd on Tuesday reported a 70.4% fall in operating profit in the second quarter as the Japanese automaker continued to struggle with falling sales as it tries to recover from a scandal surrounding ousted Chairman Carlos Ghosn.

Profit at Japan’s second-biggest automaker by sales came in at 30 billion yen ($274.98 million) during the July-September period versus 101.2 billion yen a year earlier. The result compared with a mean forecast of 47.48 billion yen from nine analyst estimates compiled by Refinitiv.

Nissan, whose financial performance has been in the doldrums for nearly two years, cut its forecast for operating profit to tumble to 150 billion yen in the year through March 2020, from a previous forecast for 230 billion yen. ($1 = 109.1000 yen)

Reporting by Naomi Tajitsu; Editing by Christopher Cushing