Toyota Motor Corp.
reported a more than fivefold jump in its quarterly profit Tuesday and raised its earnings forecast, crediting a weak yen and strong sales.
Toyota’s profit for the October-December quarter totaled a better-than-expected 525.4 billion yen ($5.2 billion), up dramatically from 99.9 billion yen a year earlier. Quarterly sales jumped 24 percent to 6.585 trillion yen ($64.2 billion).
Analysts polled by FactSet had expected a 437 billion yen ($4.3 billion) quarterly profit.Read Article