- May 10, 2006
Toyota posts big jump in quarterly profit
Toyota's quarterly profit jumped 39 percent over year-ago figures, with the automaker earning $3.6 billion on sales of $51.6 billion in the first quarter of 2006. Those aren't exactly Exxon Mobil numbers, but they're not chump change, either. Sales were up 18 percent over the same period, and the automaker sold more cars everywhere except in its stagnating home market of Japan.
Some analysts think that a weaker dollar may eventually erode these profits, as current exchange rates are said to have contributed $2.7 billion to Toyota's bottom line last year (nearly 25 percent of the automaker's net profit in 2005). Indeed, with that in mind, Toyota sees its profit dipping by 4.5 percent in the next year, despite a projected sales increase of 6 percent.
[Source: AP via Yahoo!]