Daily reviews

10.02.2021

Toyota posts a jump in operating profit

Toyota posts a jump in operating profit

The firm has also jacked up its full-year earnings forecast

Stocks impacted: Toyota Motor Corp (7203)

Toyota reported a bigger-than-expected 54% jump in third-quarter profit. The company’s operating profit rose to 987.9 billion yen ($9.45 billion) in the three months ended December 31. At the same time, the world's biggest automaker by vehicle sales posted a nine-month operating profit of 1.51 trillion yen ($14.44 billion), down 26 from 2.06 trillion yen a year ago. The firm has also jacked up its full-year earnings forecast, citing a rebound in demand for cars as the coronavirus pandemic's impact recedes. As such, for the fiscal year ending March 31, Toyota said now forecasts a record operating profit of 2 trillion yen, far higher than an earlier prediction of 1.3 trillion yen. Shares in Toyota closed up 1.7% on Wednesday after hitting their highest level since mid-2015.

Make profit on it right now!