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Toyota posts 54% rise in third-quarter operating profit, hikes full-year forecast

Other News Materials 10 February 2021 09:28
Japan’s Toyota Motor Corp on Wednesday reported a bigger-than-expected 54% jump in third-quarter profit and jacked up its full-year earnings forecast
Toyota posts 54% rise in third-quarter operating profit, hikes full-year forecast

Japan’s Toyota Motor Corp on Wednesday reported a bigger-than-expected 54% jump in third-quarter profit and jacked up its full-year earnings forecast, boosted by a rebound in demand for cars as the coronavirus pandemic’s impact recedes and sales climb in China in particular, Trend reports with reference to Reuters.

Toyota, the biggest automaker globally by vehicle sales, said operating profit rose to 987.9 billion yen ($9.45 billion) in the three months ended Dec. 31. This was better than an estimated average of 565.51 billion yen profit from nine analysts surveyed by Refinitiv SmartEstimate.

For the fiscal year ending March 31, Toyota said it now forecasts a record operating profit of 2 trillion yen, far higher than an earlier prediction of 1.3 trillion yen.

The earnings forecast is also well above an average 1.542 trillion yen profit forecast based on predictions from 23 analysts, Refinitiv data shows.

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