Toyota Motor Corp.

reported a 5 percent jump in quarterly profit Tuesday, outpacing expectations as vehicle sales grew in North America and Europe, offsetting a drop in Japan.

The Japanese maker of the Prius hybrid, Camry sedan and Lexus luxury model said April-June profit totaled a record 587.77 billion yen ($5.7 billion). Quarterly sales rose 2 percent to 6.39 trillion yen ($62.3 billion).

Both were better than projections by analysts surveyed by FactSet, who had expected a 1 percent increase in quarterly sales and a 12 percent drop in profit compared with a year earlier.

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Toyota Profit Jumps 5% On Increased Demand

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