Seeking Alpha

Toyota net profit roars 70% higher

  • Toyota's (TM) FQ2 net profit jumped 70% to ¥438.4B ($4.4B), boosted by the weaker yen and cost reductions. Consensus was for ¥451.69B.
  • Net revenues jumped 16.2% to ¥6.28T.
  • U.S. volume climbed 12.2% to 589,390 vehicles, driven by strong demand for the redesigned Corolla compact and the Lexus IS. Toyota's performance outstripped industry wide growth of 8.9%.
  • Toyota increased its guidance for FY net profit by 13% to ¥1.67T, not far off its record of ¥1.72T but short of consensus of ¥1.79T. The Japanese carmaker also raised its revenue outlook by ¥1T to ¥25T but maintained its volume projections at 9.1M vehicles. (PR)

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Comments (1)
  • keentolearn
    , contributor
    Comments (130) | Send Message
     
    Toyota has long way to go.
    6 Nov 2013, 05:08 AM Reply Like
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