Why Toyota Motor Shares Are Surging Higher Premarket Today
Portfolio Pulse from Lekha Gupta
Toyota Motor Corp (NYSE:TM) shares surged in premarket trading after reporting strong third-quarter and nine-month FY24 results. Sales revenue and vehicle sales volumes increased significantly, with notable growth in EV sales. The company also raised its FY24 revenue and operating profit outlook, despite reducing its total sales volume forecast due to lower expected sales in Japan.
February 06, 2024 | 12:49 pm
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Toyota Motor Corp's shares are trading higher after reporting increased sales revenue, vehicle sales volumes, and a significant rise in EV sales for the third quarter and nine months of FY24. The company also raised its FY24 revenue and operating profit outlook.
The positive premarket movement in Toyota's shares is directly attributed to the company's strong financial performance and optimistic outlook for FY24. The significant increase in sales revenue, vehicle sales volumes, and EV sales, along with the raised revenue and operating profit forecasts, are likely to instill confidence in investors about the company's growth trajectory and operational efficiency.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100