Toyota second-quarter profit jumps despite production cut
The result for the three months to September 30 was higher than an average 593.3 billion yen forecast based on estimates from nine analysts, Refinitiv data shows.
- Nov 4, 2021,
- Updated Nov 4, 2021 11:20 AM IST
Toyota Motor Corp reported a second-quarter operating profit of 750 billion yen on Thursday compared with a profit of 506 billion yen a year earlier as it benefited from a rebound in vehicle demand even as a global chip shortage forced it to cut output.
The result for the three months to September 30 was higher than an average 593.3 billion yen forecast based on estimates from nine analysts, Refinitiv data shows.
Toyota raised its full-year profit forecast to 2.8 trillion yen from 2.5 trillion yen. That prediction is lower than a mean 2.92 trillion yen profit based on forecasts from 21 analysts, Refinitiv data shows.
Also Read: Toyota slashes global vehicle production plan for November by 15%
Also Read: Toyota Kirloskar reports 1% rise in October wholesales at 12,440 units
Toyota Motor Corp reported a second-quarter operating profit of 750 billion yen on Thursday compared with a profit of 506 billion yen a year earlier as it benefited from a rebound in vehicle demand even as a global chip shortage forced it to cut output.
The result for the three months to September 30 was higher than an average 593.3 billion yen forecast based on estimates from nine analysts, Refinitiv data shows.
Toyota raised its full-year profit forecast to 2.8 trillion yen from 2.5 trillion yen. That prediction is lower than a mean 2.92 trillion yen profit based on forecasts from 21 analysts, Refinitiv data shows.
Also Read: Toyota slashes global vehicle production plan for November by 15%
Also Read: Toyota Kirloskar reports 1% rise in October wholesales at 12,440 units