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Home » Auto » Toyota reports 25% drop in Q2 profit, misses estimates

Toyota reports 25% drop in Q2 profit, misses estimates

In the same period a year earlier, Toyota reported a 749.9 billion yen profit.

By Newsd
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Toyota Motor Corp on Tuesday posted a 25% drop in second-quarter operating profit, as soaring parts and materials costs outweighed a boost in overseas revenue from the plunging Japanese yen, as well as a rebound in production.

Operating profit for the three months ended Sept. 30 fell to 562.7 billion yen ($3.79 billion), missing an average estimate of 772.2 billion yen in a poll of 12 analysts by Refinitiv. In the same period a year earlier, Toyota reported a 749.9 billion yen profit.

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