Toyota posts profit surge and lifts annual outlook as hybrid sales shine
Business Recorder • • 1 min read
Toyota raised its operating-profit forecast for the financial year ending in March by 15%, to 3.9 trillion yen, after quarterly earnings beat analyst expectations. Operating profit for July to September reached 1.13 trillion yen, a 34% increase and above the 992 billion yen median forecast in an LSEG poll.
Business Recorder reported that stronger sales of higher-margin hybrid vehicles and a weaker yen helped counter falling sales in China and the Middle East. Toyota also cited sales efforts and cost reductions to manage higher material costs and the effects of the Middle East situation. The company’s shares rose more than 14% in Tokyo trading after the results, their strongest one-day gain since 2008.
At a glance
- Toyota lifted its annual operating-profit outlook by 15%, to 3.9 trillion yen.
- Quarterly operating profit rose 34% to 1.13 trillion yen.
- Toyota shares climbed more than 14% in afternoon trading.
Originally reported by Business Recorder
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