TOKYO - Toyota Motor Corporation (NYSE:TM) reported robust financial results for the first quarter of fiscal year 2025, surpassing analyst expectations for both revenue and earnings per share.
The Japanese automaker posted revenue of 11.84 trillion yen ($78.68 billion) for the quarter ended June 30, 2024, representing a 12.2% increase YoY and beating the analyst consensus estimate of $72.49 billion. Earnings per share came in at $6.58, significantly above the $5.42 expected by analysts.
Toyota's operating income rose 16.7% YoY to 1.31 trillion yen ($8.71 billion), driven primarily by favorable exchange rates and marketing efforts. Net income attributable to Toyota increased 1.7% to 1.33 trillion yen ($8.85 billion).
Despite the strong financial performance, global vehicle sales declined 3.2% YoY to 2.25 million units. Sales in Japan fell 20.8%, while overseas sales grew 2%.
"Our first quarter results demonstrate Toyota's resilience and ability to navigate challenging market conditions," said Toyota President Koji Sato. "We remain focused on operational efficiency and meeting diverse customer needs globally."
The company's automotive segment saw operating income rise 18.2% YoY, while the financial services unit posted an 8.4% increase. Regionally, operating income grew significantly in Japan, Europe and Asia, but declined in North America and other markets.
Toyota's balance sheet remained strong, with total assets increasing 4.4% from the end of fiscal 2024 to 94.04 trillion yen ($625.07 billion). The company did not provide specific guidance for upcoming quarters or the full fiscal year.
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