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Toyota posts 54 percent jump in third quarter profit

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Toyota Motor on Tuesday reported a 54 percent jump in operating profit for the third quarter, boosted by strong performance at home in Japan along with a weaker yen, and raised its forecast for full-year profit.

Japan’s biggest-selling automaker posted 673.6 billion yen ($6.19 billion) operating profit for October-December, from 438.59 billion yen a year earlier. The result exceeded a mean estimate of 527.22 billion yen taken from 11 analysts polled by Thomson Reuters I/B/E/S.

Toyota raised its forecast for operating profit in the year through March to 2.2 trillion yen, a 10 percent rise from last year, based on an unchanged assumption of the yen averaging around 111 yen versus the U.S. dollar.

Credit:Foxbusiness

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