NEW YORK (TheStreet) -- Toyota Motor Corp. (TM - Get Report) said it will cut prices of spare parts in China for its Lexus vehicles next month after an antitrust investigation into the auto industry, Bloomberg reports.
Toyota will lower prices of about 15,000 Lexus parts by an average of 26% beginning September 1.
Shares of Toyota closed yesterday at $115.70.
Must Read: Warren Buffett's 25 Favorite Stocks
- The revenue growth came in higher than the industry average of 23.0%. Since the same quarter one year prior, revenues rose by 44.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- TOYOTA MOTOR CORP has improved earnings per share by 16.8% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, TOYOTA MOTOR CORP increased its bottom line by earning $11.17 versus $6.46 in the prior year. This year, the market expects an improvement in earnings ($12.61 versus $11.17).
- The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Automobiles industry average. The net income increased by 17.1% when compared to the same quarter one year prior, going from $2,737.00 million to $3,204.00 million.
- Net operating cash flow has significantly increased by 61.50% to $9,495.00 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 29.74%.
- You can view the full analysis from the report here: TM Ratings Report