Toyota Announced Record Profit In The Second Quarter

Toyota announced record profit in the second quarter. Toyota reported a profit of $9.15 billion in the third quarter of the second quarter.

Toyota, Japan's largest automaker, has released its second quarter financial report. Toyota Motor reported a profit of $9.15 billion (997.49 billion yen) in the second quarter as automobile sales recovered during the coronavirus epidemic and weathered the global chip crisis better than many competitors. The company's profit for the three months ending June 30 managed to beat the average forecast of market analysts. Toyota's last quarter profit was also supported by positive currency movements. The Japanese automaker kept its profit forecast of 2.5 trillion yen, which it announced in May, for the current fiscal year, due to the spread of Covid-19 cases in emerging economies, the global chip problem and higher parts costs in the auto industry.