Toyota Expects U.S. Tariffs, Higher Material Costs to Dent Profit
Photo: kim kyung-hoon/Reuters
Toyota 7203 -0.96%decrease; red down pointing triangle Motor projected lower annual profit after reporting a drop in fourth-quarter earnings, expecting U.S. tariffs and higher material costs to cut into its bottom line.
The Japanese carmaker said Thursday that net profit fell 33% from a year earlier to 664.6 billion yen, equivalent to $4.62 billion, for the three months ended March. That beat the estimate of ¥587.4 billion in a poll of analysts by data provider Visible Alpha.
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