Nissan Motor posted its first quarterly net profit in two years, reporting 3.76 billion yen (equivalent to $23.9 million) for the three months ended June. This marks a significant turnaround compared with a net loss of ¥115.76 billion in the year-ago period, performing better than the ¥3.65 billion loss estimated by analysts.

First-quarter revenue grew 9.5% from a year earlier to ¥2.964 trillion. To address falling sales, the carmaker has taken restructuring steps to cut costs, including selling its headquarters.

For the fiscal year ending March 2027, Nissan lowered its global sales projection to 3.15 million units, down from 3.30 million expected previously. However, the company continues to project an 8.3% rise in revenue to ¥13.000 trillion and a net profit of ¥20.0 billion.