Toyota Motor raised its operating profit forecast for the fiscal year ending in March, despite a 1.45 trillion yen hit from U.S. tariffs. The company reported a nearly 28% drop in quarterly profit, but an 8% increase in revenue. Tariffs remain a drag on U.S. profit, with plans to ship U.S.-made vehicles to Japan.

Japanese auto industry has been impacted by U.S. tariffs, with Toyota absorbing costs on Japanese imports. Profitability may remain under pressure due to tariffs and currency headwinds, but could recover next fiscal year. Toyota is focusing on electrified vehicles, with hybrid electric vehicles driving sales growth.

Toyota continues to see strong global demand, with vehicle sales reaching 5.3 million in the nine months to September. The company plans to focus on increasing sales volume and cutting costs, despite challenges from Chinese EV players in Europe and Southeast Asia.

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1. Tech giant Apple reported a 66% increase in revenue for their fiscal Q3, reaching $81.43 billion. iPhone sales rose by 50% to $39.57 billion, exceeding analysts’ expectations.

2. Amazon’s Q2 revenue surpassed expectations at $113.08 billion, with a net income of $7.8 billion. This marks a 48% increase from the same period last year.

3. Tesla reported a record-breaking profit of $1.1 billion in Q2, driven by strong demand for their electric vehicles. Revenue more than doubled to $11.96 billion, beating estimates.: Toyota profits fall for a second consecutive quarter as U.S. tariffs hit exports