Toyota's Quarterly Earnings Decline
(MENAFN) Japanese automotive giant Toyota experienced a decline in operating earnings during the April-June period compared to the same time last year, primarily due to "the impact of US tariffs and other factors," as stated in its financial disclosure released on Thursday. Nevertheless, the results surpassed analysts' expectations.
Toyota's operating profit dropped 10.9% year-over-year, amounting to 1.16 trillion yen ($7.87 billion).
The corporation cited a 450 billion yen ($3 billion) hit as a result of heightened tariffs imposed by the United States.
Even though profits declined, the firm’s operating earnings remained above projected market levels.
Additionally, Toyota’s net earnings fell 36.9% annually to 841.3 billion yen ($5.71 billion), marking a substantial decrease.
The automaker also adjusted its outlook for the entire fiscal year, lowering its forecasted operating profit by 600 billion yen ($4 billion) to 3.2 trillion yen ($21.72 billion).
“Due to the impact of US tariffs and other factors, actual results showed decreased operating income, and the forecast has been revised downward,” Toyota explained in an official statement.
Conversely, the company saw a modest boost in sales, with revenue rising 3.5% year-over-year to 12.25 trillion yen ($83.17 billion) in the same quarter.
“Despite a challenging external environment, we have continued to make comprehensive investments and as well as improvements such as increased unit sales, cost reductions, and expanded value chain profits, thereby minimizing negative impacts,” the company emphasized.
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