A sign with the Toyota logo in Surrey, England on August, 2023<\/p>\n
Peter Dazeley | Getty Images News | Getty Images<\/p>\n
Toyota Motor<\/a> on Wednesday missed operating profit for the quarter ended September as the Japanese auto giant bears the brunt of U.S. tariffs.\u00a0<\/p>\n Here are Toyota’s September quarter results compared with mean estimates from LSEG:<\/p>\n Revenue: 12.38 trillion yen (about $81 billion) vs. 12.18 trillion yenOperating profit: 834 billion yen vs. 863.1 billion yen<\/p>\n The world’s largest carmaker by sales volume reported a nearly 28% drop in profit , year on year, while revenue increased over 8%.<\/p>\n The company released 6-month results \u2014 from April to September \u2014 and the quarterly numbers have been calculated by CNBC, based on company statement and LSEG data.<\/p>\n The company’s profit fell for a second straight quarter since the United States introduced “reciprocal” tariffs in April. Tokyo in July clinched\u00a0a trade deal with Washington<\/a>, bringing down tariffs on its exports to the U.S. to 15% from the 25% initially proposed by President Donald Trump. The\u00a015% tariffs<\/a>\u00a0took effect on Aug. 7.<\/p>\n Japanese shipments of automobiles to the U.S. have seen a sharp decline<\/a> in terms of value, with exports dropping 24.2% in September, slightly less compared to the 28.4% drop in August.<\/p>\n