TOKYO – Toyota experienced a significant increase in operating profit in the first quarter, driven by higher sales and production volumes as well as the favorable impact of a weaker yen. The Japanese automaker reported an operating profit of 1.12 trillion yen ($7.85 billion) for the three months through June, a 94% increase compared to the same period last year. This exceeded the average profit estimate of 945.22 billion yen from a poll of 10 analysts. In the first quarter of last year, Toyota’s operating profit was 578.66 billion yen. Despite the positive results, Toyota has maintained its profit forecast of 3.0 trillion yen for the current year, which is lower than the average forecast of 3.6 trillion yen from 23 analysts. Following the earnings release, Toyota shares rose 2.8% to 2,453 yen.
Subscribe to INQUIRER PLUS to gain access to The Philippine Daily Inquirer and over 70 other titles, share up to 5 gadgets, listen to the news, download as early as 4am, and share articles on social media. Call 896 6000.
For feedback, complaints, or inquiries, contact us.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
