At the end of the second quarter, Toyota Motor's operating profit increased by 155.6% to 1.44 trillion yen ($9.52 billion). The company's net profit was $8.7 billion, compared to $3 billion in the same period a year ago. Quarterly sales of "Toyota Motor" increased by 24% and reached 70 billion dollars. Sales of the company's cars have increased in all markets. In total, 2.8 million cars of the Japanese manufacturer were sold in the world during the quarter.
Profit growth was helped by a weakening yen, as well as an easing of a global semiconductor shortage that hurt the profits and sales of Toyota Motor and other automakers a year ago. In light of the results, the Japanese manufacturer has significantly raised its forecasts for the full fiscal year.
Toyota Motor estimates net profit for the year ending March 2024 will rise 61% to $26 billion from $16 billion in 2023. At the same time, the forecasts for the sale of cars at Toyota Motor remained the same - 11.4 million.
The company's shares react to earnings with a 4.7% gain. Toyota Motor shares are up more than 50% since the beginning of the year.
©banker.az
