05.02.2025 11:41
The automotive giant Toyota, struggling with financial issues, has once again made headlines due to a sharp decline in its profits. The company reported an approximately 28% drop in its operating profit for the third quarter, falling below expectations.
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Toyota is the world's largest car manufacturer by sales volume. However, the company saw a year-on-year decline of about 28% in its quarterly operating profit during this period. Nevertheless, the net income attributed to the company jumped from 1.37 trillion yen a year ago to 2.19 trillion yen.
The Japanese car manufacturer reported a second consecutive decline in its quarterly profit on Wednesday due to competition in China and a shift towards electric vehicles in the market. Here are Toyota's results compared to analysts' estimates compiled by LSEG:
Revenue: 12.39 trillion yen vs. 12.1 trillion yen
Operating profit: 1.22 trillion yen vs. 1.39 trillion yen
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