Toyota’s operating profit posted its first increase in a year and a half, rising 34% between July and September.
Operating profit reached 1.13 trillion yen, or about $7.1 billion, surpassing the average forecast of nine analysts in a London Stock Exchange Group poll, which stood at 992 billion yen, according to Reuters.
The Japanese automaker attributed the growth to a weaker yen and strong demand for hybrid vehicles, which helped offset the impact of lower sales in China and the Middle East.
Quarterly revenue also rose from 12.4 trillion yen to 13.4 trillion yen, despite U.S. tariffs, supply disruptions, and higher raw material costs.
Toyota Raises Annual Profit Forecast
On the other hand, Toyota’s net profit fell 19% year on year, from 932 billion yen to 759.4 billion yen, according to the Associated Press.
Nevertheless, the company raised its net profit forecast for the fiscal year ending March 2027, from 3.25 trillion yen to 3.57 trillion yen.
For the previous fiscal year, it had recorded 3.8 trillion yen.
In terms of sales, Toyota sold 4.76 million vehicles during the first half of its fiscal year, compared with 4.78 million vehicles in the same period a year earlier.
The company expects its global sales to reach 9.7 million vehicles by the end of the fiscal year, compared with about 9.6 million vehicles in the previous year.
