Japanese automaker Nissan Motor Co. said on Thursday its operating income for the three months ending on December 31, 2019, amounted to ¥22.735 billion (around $207 million), significantly lower than market estimates and falling 78% on an annual basis.
Net sales for the third fiscal quarter declined 17% to ¥2.5 trillion as gross profit tanked 30% to ¥343.56 billion. From a net income of ¥75.85 billion in the third fiscal quarter of 2018, the company suffered a net loss of ¥21.98 billion in the corresponding period last year.
Nissan also booked a loss per share of ¥6.67 for the quarter, which compared to earnings of ¥18 in the same period in the year prior.
