Toyota more than doubles full-year profit outlook

In this news, we discuss the Toyota more than doubles full-year profit outlook.

TOKYO (Reuters) – Toyota Motor Corp 7203. 24%.

Japan’s largest automaker said it now expects operating profit of 1.3 trillion yen ($ 12.6 billion) for the year through March 2021, against a previous forecast with a profit of 500 billion yen. That’s above an average estimate of a profit of 1.25 trillion yen compiled from 26 analysts polled by Refinitiv.

In the July-September quarter, operating profit fell to 506 billion yen from 662.4 billion in the same period a year earlier, according to Reuters calculations, as sales fell in the middle of the impact of the coronavirus around the world.

(1 USD = 103,4200 yen)

Reporting by Tim Kelly; Edited by Kenneth Maxwell

Original © Thomson Reuters

Originally posted 2020-11-06 07:06:09.

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