Toyota Motor Corp reported a 48% rise in second-quarter operating profit and raised its earnings outlook on Thursday as it benefited from a rebound in vehicle demand and a weaker yen.
Its operating profit of 750 billion yen for the three months to Sept. 30 was higher than an average 593.3 billion yen forecast based on estimates from nine analysts, Refinitiv data shows.
Toyota raised its full-year profit forecast to 2.8 trillion yen from 2.5 trillion yen. That prediction is lower than a mean 2.92 trillion yen profit based on forecasts from 21 analysts, Refinitiv data shows.
The maker of the RAV4 SUV crossover and Prius hybrid lowered its full-year sales target to 10.29 million vehicles from 10.55 million.