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Nissan shares, down 19% this year, closed up 1% at 714.5 yen before the results announcement.

Operating profit at Japan’s second-biggest automaker by sales came in at 30 billion yen ($275 million) in July-September versus 101.2 billion yen a year earlier.

That compared with a mean forecast of 47.48 billion yen from nine analyst estimates compiled by Refinitiv.

The company’s global vehicle sales fell 7.5% to 1.27 million in the quarter.

Nissan slashed its full-year operating profit forecast by 35% to 150 billion yen, which would be its worst full-year performance in 11 years.