20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Toyota Motor Corp (NYSE:TM) reported Q1 FY24 sales revenue of ¥10.5 trillion ($76.98 billion), higher than ¥8.5 trillion ($65.56 billion) a year ago.
In the quarter, vehicle sales volumes rose to 2.3 million units (vs. 2.0 million units a year ago) on growth across all regions.
Toyota and Lexus vehicle sales rose 8.4% Y/Y to 2.5 million, and EV sales increased 29.9% Y/Y to 868,000.
Related: Toyota Motor Posts 9% Sales Growth In June On Recovery In Semiconductor Shortages
The operating income for the quarter increased to ¥1.12 trillion (from ¥578.6 billion in the prior-year quarter), beating the consensus of ¥945.22 billion, as per Reuters.
Marketing initiatives and favorable foreign exchange rates positively impacted operating income, with profits growing across regions, except Asia (on weakness in China).
Net income for the quarter was ¥1.31 trillion versus ¥736.8 billion last year.
The company held ¥7.9 trillion in cash and equivalents as of June 30, 2023.
FY24 Outlook: The automaker reiterated its outlook for revenue at ¥38 trillion (+2.3% Y/Y) and operating profit at ¥3.0 trillion (+10.1% Y/Y, vs. analysts' consensus of ¥3.6 trillion).
Toyota sees a sales volume of 9.6 million and projects total retail unit sales of 11.4 million in FY24.
Also Read: Toyota Ramps Up Local EV Tech Development In China
Price Action: TM shares are trading higher by 1.94% at $171.50 premarket on the last check Tuesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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