Toyota Posts Surge In Q2 Profit, Lifts FY Forecast

Toyota Motor

reported a surge in its second-quarter net profit and lifted its profit view for the fiscal year. Toyota's quarterly net profit rose to 257.92 billion yen ($3.2 billion), from Y80.42 billion, in the year-ago quarter. However, analysts were expecting a profit of Y232.5 billion. Its revenue surged 18% to Y5.407 trillion from Y4.575 trillion. Toyota raised its net profit forecast to Y780 billion from Y760 billion for the fiscal year. It now expects sales of Y21.300 trillion, from Y22.000 trillion. Toyota shares fell 0.32% to close at $77.80 on Friday.