Nissan Motor Co announces it's second quarter results and year to date results, and all is looking great.

Results for three months to June 30, 2016 (TSE report basis – China JV equity basis)1	FY2016 3 months (Apr.-Jun. 2016)	Y-O-Y
Net revenue	¥2.65 trillion ($24.6 billion/€21.8 billion)	-8.4% (+2.9% in $ /+0.8% in €)
Operating profit	¥175.8 billion ($1.6 billion/€1.4 billion)	-9.2% (+2.0% in $ /-0.1% in €)
Ordinary profit	¥198.2 billion ($1.8 billion/€1.6 billion)	-8.2% (+3.2% in $ /+1.1% in €)
Net income2	¥136.4 billion ($1.3 billion/€1.1 billion)	-10.7% (+0.3% in $ /-1.7% in €)

Based on average foreign exchange rates of JPY 108.0/USD and JPY 121.9/EUR

Nissan Motor Co., Ltd. today announced financial results for the three-month period to June 30, 2016. Operating profit was 175.8 billion yen for the period, representing a 6.6% margin on net revenues of 2.65 trillion yen. On a constant currency basis, operating profit was 267.0 billion yen, up 37.8%.

“Nissan has delivered solid results in the first three months of the fiscal year despite recent currency headwinds and continued emerging-market volatility,” said Carlos Ghosn, president and chief executive officer. “Encouraging demand for core products, particularly in North America, and our continued focus on cost efficiencies contributed to an improved underlying performance, making us well placed to deliver our full-year net income guidance. This reflects our cost-discipline, on-going product offensive and the benefits of our Alliance strategy.”

On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint-venture operations in China, net revenue was 2.89 trillion yen. Operating profit was 209.0 billion yen, resulting in a 7.2% operating profit margin.

FY2016 Outlook

Nissan maintained its forecasts first issued to the Tokyo Stock Exchange in May. Calculated under the equity accounting method for the fiscal year ending March 31, 2017, the forecasts showed:

Nissan FY16 Outlook – TSE report basis – China JV equity basis1
Net revenue	¥11.8 trillion ($112.4 billion/€98.3 billion)
Operating profit	¥710.0 billion ($6.8 billion/€5.9 billion)
Ordinary profit	¥800.0 billion ($7.6 billion/€6.7 billion)
Net Income2	¥525.0 billion ($5.0 billion/€4.4 billion)

Calculated on exchange rate of JPY 105/USD and JPY 120/EUR

1 Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong Feng-Nissan's results in revenues and operating profit.

2 Net income attributable to owners of the parent

“Constant currency” provides a framework for assessing underlying businesses performance excluding the effect of foreign currency rate fluctuations. Constant currency financial measures should not be considered as a substitute for, or superior to, the reported measures of financial performance.