Nissan Motor Co. reported a profit of $24 million for the period of January-March, marking a reversal from the loss it racked up during the same period a year earlier.
The rise in quarterly profit comes as the Japanese carmaker seeks to build on progress from the early stages of its restructuring plan. These results offer an early indication of Chief Executive Officer Ivan Espinosa's bid to stabilize the company after years of management turmoil and sliding sales.
While the company has lowered its vehicle sales projection, Nissan kept its annual earnings forecasts unchanged.