Toyota quarterly net profit beats estimates despite chip shortage | ABS-CBN

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Toyota quarterly net profit beats estimates despite chip shortage

Toyota quarterly net profit beats estimates despite chip shortage

Agence France-Presse

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Newly assembled vehicles are parked at the Toyota Motor Manufacturing plant in Baja California, Tijuana, Mexico May 31, 2019. Jorge Duenes, Reuters/File Photo
Newly assembled vehicles are parked at the Toyota Motor Manufacturing plant in Baja California, Tijuana, Mexico May 31, 2019. Jorge Duenes, Reuters/File Photo


TOKYO - Toyota on Wednesday logged a 791.7 billion yen ($6.8 billion) net profit for the three months to December, beating forecasts even as a global chip shortage led to production cuts.

The Japanese auto giant, which kept its crown as the world's top-selling carmaker in 2021, left its annual net profit forecast unchanged.

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