Toyota raised its annual earnings forecast after posting a 23 per cent jump in July-September profit as a favourable exchange rate added to the momentum of the Japanese automaker's sales growth.
Toyota Motor Corp. reported Wednesday a better-than-expected fiscal second quarter profit of 539 billion yen ($4.7 billion), up from 438 billion yen the same period the previous year. Analysts surveyed by FactSet had expected about 500 billion yen ($4.4) in quarterly profit
Quarterly sales grew 4 per cent to 6.55 trillion yen ($58 billion) as a weak yen boosted the value of overseas revenue.
Toyota, the world's top-selling automaker, raised its profit projection for the year through March 2015, to 2 trillion yen ($17.5 billion). That would be an increase of 10 per cent from the previous year.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.