Toyota Posts Higher Than Expected Profits For 4th Quarter

Toyota Motor Corp.  provided the clearest signal yet that it had drawn a line under the fallout stemming from its massive recall, reporting a surprise fiscal fourth quarter profit and predicting a surge in net profit this fiscal year as it aims to boost sales in Asia and cut costs.

The world's biggest car maker by volume said Tuesday it expects a steep 48% growth in net profit to Y310 billion in the current full fiscal year through March. It posted a net profit of Y112.2 billion in the three months ended March after recording a net loss of Y765.8 billion in the same period a year earlier.

Such an optimistic forecast is a clear sign that the company's major recall of over 8.5 million vehicles won't drag on to the point where it puts the brakes on the company's recovery after it fell into its first annual net loss in 59 years in the fiscal year ended March 2009.

"We are still in the middle of the storm. But we can see the sky starting to clear up far away," Toyota President Akio Toyoda said at a press conference.




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Steve - 5/11/2010 10:24:43 AM

+3 Boost

This news must really piss off the flock of Toyota Haters :-/

LexSucks - 5/11/2010 10:30:34 AM

+1 Boost

Way to go Toyota. You can build crappy people killing cars and still do better than expected.

LexSucks - 5/13/2010 10:23:55 AM

+1 Boost

Who's talking about Ford and Hyundai? Stop Deflecting.

Agent009 - 5/11/2010 2:43:18 PM

-4 Boost

I have another fan! Geez

bmwm6 - 5/11/2010 11:29:32 AM

+2 Boost

good news for Toyota!

truckman - 5/11/2010 1:19:26 PM

-2 Boost

This goes to show how badly we need to study in school or the lack of studying when we were in school, seriously this is sad, I used to be a Toyota fan, I would rather have a Hyundai.

uaw_lax - 5/12/2010 1:34:10 AM

+1 Boost

Even if tht recall problems never happened to Toyota who in thier right mind would want one of the most boring unporforming cars in the industry?!

r15mohd - 5/12/2010 8:05:07 AM

0 Boost

tell that to the millions of people buying new toyota's...bump in the road, toyota will still outlast as always!

uaw_lax - 5/12/2010 4:22:20 PM

0 Boost

You must be 15 right?