Toyota Keeps Conservative Profit View as CEO Transition Looms
- Quarterly operating profit tops analysts’ projections
- Full-year outlook intact, seen coming in higher than projected
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Toyota Motor Corp. posted third-quarter profit that topped estimates, but kept its conservative outlook for the year intact in the face of stubborn component shortages ahead of a change in leadership.
Profit for the fiscal quarter ended December topped rose 22% to ¥957 billion ($7.3 billion) from a year earlier, exceeding analysts’ average projection for ¥747 billion. For the fiscal year ending March, operating profit is on track to reach ¥2.4 trillion, in line with the prior forecast, the company said Thursday.