Report: Toyota releases financial results, predicts profits will double in 2012

Filed under: Toyota, Earnings/Financials

Things are good again at Toyota, which reported a $1.5 billion profit for the quarter, wrapping up a fiscal year in which it made just $3.5 billion, according to Business Week.

While Toyota saw sales growth in Europe, Africa, and its home market, North America was a weak point. Sales revenue for the fiscal year totaled $232 billion, down two percent, according to the report.

Though the company still beat its forecast of $2.5 billion, the real excitement surrounds its projections for the next 12 months. As predicted by analysts, Toyota says it expects to make $9.5 billion in the year that extends through March of next year, showing that the automaker has fully recovered from the effects of last year's tsunami, according to the report.

Toyota releases financial results, predicts profits will double in 2012 originally appeared on Autoblog on Wed, 09 May 2012 18:30:00 EST. Please see our terms for use of feeds.

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Source: http://www.autoblog.com/2012/05/09/toyota-releases-financial-results-predicts-profits-will-double/

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