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Toyota’s Quarterly Earnings Rise 5%
Toyota Motor Corp. reports its net earnings grew 5% to 628 billion yen ($5.4 billion) in its October-December fiscal third quarter.
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Toyota Motor Corp. reports its net earnings grew 5% to 628 billion yen ($5.4 billion) in its October-December fiscal third quarter.
Results were buoyed by cost-cutting efforts and new products rather than currency exchange effects. Analysts note the yen, while still weak against the U.S. dollar, has strengthened against the euro and the currencies of emerging markets.
For the nine months ending Dec. 31, Toyota's vehicle sales slipped 4% to 6.49 million units. But revenue for the period gained 7% to 21.4 trillion yen ($183 billion). Operating income advanced 9% to 2.3 trillion yen ($20 billion), and net income grew 9% to 1.9 trillion yen ($16 billion).
Toyota predicts its full-fiscal-year net revenue of 27.5 trillion yen ($235 billion), operating income of 2.8 trillion yen ($24 billion), pretax income of 3 trillion yen ($26 billion) and net income of 2.3 trillion yen ($20 billion).
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