Toyota Q4 operating profit skids 33%, misses estimate

May 11, 2022: Toyota Motor Corp on Wednesday reported a 33% fall in quarterly profit, as a sliding yen and solid demand failed to offset the impact of production disruptions caused by a global shortage of chips and China's COVID restrictions.

The world's biggest automaker by sales posted an operating profit of 463.8 billion yen ($3.56 billion) in the January-March quarter, well below an average estimate of 521.1 billion yen from seven analysts surveyed by Refinitiv.

It compares with a 689.8 billion yen profit in the same period a year earlier.

Reuters

Posted on: 2022-05-11T09:37:36+05:00

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