Posts Tagged ‘Toyota earnings results’

US Tax Windfall Doubles Toyota’s Q3 Profits

Automaker revised full-year earnings forecasts for third time.

by on Feb.06, 2018

Despite giving the Camry a stylish makeover the sedan continued to lose sales momentum last quarter.

Toyota reported a 54% increase in operating profit in Q3 despite weak sales in the U.S. However, it was the U.S. that help to double its profits from the year-ago period, courtesy of President Donald Trump’s recently passed tax plan.

Operating profit was 673.6 billion yen, or $5.98 billion, in the quarter that ended Dec. 31, an increase of 214.7 billion yen, or $1.91 billion. Additionally, net income rose nearly 94% to 941.8 billion yen, or $8.36 billion, the company said.

Financial News!

The results pushed Toyota to revise its full-year earnings forecast for the third time, although its prediction for sales remained unchanged at 8.95 million for the year ending March 31. (more…)