Toyota Profits Drop Nearly 40 Percent
Toyota Profits Drop Nearly 40 Percent
Toyota, the world's largest automaker, released its fiscal third-quarter results Tuesday, posting a near-40 percent decline in profits for the period ending December 31st. The company reported its net profit for the three-month period as 93.63 billion yen, compared to profit of 153.22 billion yen in the same period in 2009.
The company's net revenue for the period also slipped, by 11.71 percent to 4.67 trillion, compared to revenue of 5.29 trillion yen in 2009's final three months. The Japanese auto conglomerate did revise its full-year forecast up to 490 billion yen from a previously announced forecast of 350 billion yen, which the company attributes to “progress made in our efforts to improve profitability.”
During the quarter, Toyota sold just over 18 million cars, down 12.75 percent from the 20 million-plus it sold in the final three months of 2009.
Toyota, the world's largest automaker, released its fiscal third-quarter results Tuesday, posting a near-40 percent decline in profits for the period ending December 31st. The company reported its net profit for the three-month period as 93.63 billion yen, compared to profit of 153.22 billion yen in the same period in 2009.
The company's net revenue for the period also slipped, by 11.71 percent to 4.67 trillion, compared to revenue of 5.29 trillion yen in 2009's final three months. The Japanese auto conglomerate did revise its full-year forecast up to 490 billion yen from a previously announced forecast of 350 billion yen, which the company attributes to “progress made in our efforts to improve profitability.”
During the quarter, Toyota sold just over 18 million cars, down 12.75 percent from the 20 million-plus it sold in the final three months of 2009.
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