Nissan Has $1.5 Billion Profit for Quarter, 20% Decline from 2011

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has declared a $1.5 billion (¥120.7 billion) operating profit for the quarter. However, this number is 20% lower than in the same period last year. The reason for the lower number is the strong yen affecting exchange rates, especially in North America. Also the tsunami last year limited auto supply and raised transaction prices. 

Total revenue was up 2.6% to $26.64 billion (¥2.1364 trillion).

Nissan sold 1.21 million cars worldwide during the quarter, which is 14.6% better than last year. It now holds 5.9% of the global market share, a 0.4% increase. 

"Nissan has delivered a respectable performance in the quarter despite challenging macro-economic conditions. Our innovative models remain in high demand, with further exciting vehicles due for launch. Against that background, we remain on track to achieve our full-year forecasts," said Nissan President and CEO, Carlos Ghosn.