YOKOHAMA, July 26 (Reuters) - Nissan Motor Co Ltd on Thursday posted a 28.8 percent fall in operating profit for the first quarter of its financial year due to a hit to U.S. sales, as the automaker reigned in heavy discounting on its vehicles.
Operating profit at Japan’s second-largest automaker was 109.1 billion yen ($985.64 million) for April-June, versus 153.3 billion a year earlier. The result was slightly higher than a 103.4 billion yen average of seven analyst estimates compiled by Thomson Reuters I/B/E/S.
Nissan maintained its forecast for full-year operating profit to slide 6.0 percent to 540 billion yen, as it expects a stronger yen and higher raw material prices to offset a rise in overall global vehicle sales. ($1 = 110.6900 yen) (Reporting by Naomi Tajitsu Editing by Christopher Cushing)