Toyota Posts 54% Rise In Third-quarter Working Revenue, Hikes Full-year Forecast

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TOKYO: Japan’s Toyota Motor Corp on Wednesday reported a bigger-than-expected 54% leap in third-quarter revenue and jacked up its full-year earnings forecast, boosted by a rebound in demand for vehicles because the coronavirus pandemic’s impression recedes and gross sales climb in China specifically.

Toyota, the most important automaker globally by automobile gross sales, stated working revenue rose to 987.9 billion yen ($9.45 billion) within the three months ended Dec. 31. This was higher than an estimated common of 565.51 billion yen revenue from 9 analysts surveyed by Refinitiv SmartEstimate.

For the fiscal yr ending March 31, Toyota stated it now forecasts a report working revenue of two trillion yen, far larger than an earlier prediction of 1.three trillion yen.

The earnings forecast can be effectively above a median 1.542 trillion yen revenue forecast based mostly on predictions from 23 analysts, Refinitiv information reveals.

($1 = 104.5500 yen)

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