Toyota more than doubles quarterly profit, shares surge
The Japanese automaker lifted its full-year profit forecast by 50 per cent to 4.5 trillion yen from 3 trillion yen.
Toyota Motor reported a more than doubling of second-quarter profit on Wednesday, helped by a weak yen currency and strong sales, and raised its full-year forecast by 50 per cent.
The world's top-selling automaker said operating profit for the three months to the end of September rose 155.6 per cent from a year earlier to 1.44 trillion yen ($9.52 billion).
The results compared to an average 1.08 trillion yen profit estimate in a poll of 10 analysts by LSEG and a profit of 562.8 billion yen in the same period last year.
The Japanese automaker lifted its full-year profit forecast by 50 per cent to 4.5 trillion yen from 3 trillion yen. That compares to analysts' average forecast of 4.0 trillion yen.
Toyota shares, which were up 4.4 per cent just before the release of the earnings, jumped immediately after and were up 6.1 per cent at 2748 yen by 0500 GMT.
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