Toyota Motor Corp. reported a 93.6% increase in earnings for the third-quarter of its fiscal 2018 on higher vehicle sales and raised its full fiscal 2018 profit forecast.
The Japanese automotive giant said its third-quarter net income attributable to Toyota Motor amounted to ¥941.8 billion, up from ¥486.5 billion in the prior-year period. Net income per share was reported at ¥314.99, compared to ¥159.54 in the fiscal third quarter of 2017.
Net revenue totaled ¥7.606 trillion, compared to ¥7.084 trillion in the year-ago period. Operating income stood at ¥673.6 billion, up from ¥438.5 billion the year before.
For the nine months ended Dec. 31, 2017, the company reported net income of ¥2.013 trillion, compared to ¥1.433 trillion in the same period a year ago.
Consolidated vehicle sales for the third quarter were 2.29 million units, up from 2.28 million in the previous year. Consolidated sales for the nine-month period were 6.68 million units, compared to 6.64 million units sold a year ago. The company said its consolidated vehicle sales forecast for the fiscal year ending March 31, 2018, is unchanged at 8.95 million units.
Toyota revised consolidated financial forecasts for the full fiscal year. It now expects net income of ¥2.400 trillion, operating profit of ¥2.200 trillion and consolidated net revenue of ¥29.000 trillion, compared to ¥1.950 trillion, ¥2.000 trillion and ¥28.500 trillion, respectively, predicted previously.
As of Feb. 5, US$1 was equivalent to ¥110.10.
