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updated: 11/1/2013 6:12 AM

Nissan cuts profit outlook as recalls add to costs

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  • Nissan reports quarterly earnings on Friday, Nov. 1, 2013.

    Nissan reports quarterly earnings on Friday, Nov. 1, 2013.
    Associated Press

 
Associated Press

Nissan Motor Co., Japan's second-biggest automaker, cut its earnings forecast Friday to reflect tougher than expected conditions in many markets and expensive recalls. The company posted a 107.8 billion yen ($1.1 billion) net profit for the July-September quarter, a meager 2 percent increase from 105.7 billion yen a year earlier. Quarterly sales rose 16 percent to 2.5 trillion yen ($25.4 billion).

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