Why Toyota Motor Rallied Today
Shares of Toyota Motor (NYSE: TM) rallied 4.8% on Wednesday as of 2:23 p.m. ET.
Toyota is the largest automaker in the world, so its stock hasn't escaped the slowdown in auto sales that came after the height of the pandemic. However, as today's results showed, it's navigating the difficult auto market far better than rivals.
Unlike some of its electric vehicle (EV) and legacy auto rivals reporting this earnings season, Toyota's results were stronger than expected. Revenue for the third quarter of fiscal 2025, ended Dec. 31, 2024, was $80 billion and earnings per share was $1.07, well ahead of the $77 billion and $0.64 predicted by Wall Street analysts. While auto sales were down 4% in the quarter, this was relatively better than feared. Toyota also bumped up its profit outlook for the fiscal year ending in March to $31 billion, up from a prior outlook of $28 billion.
Source Fool.com
