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Toyota posts 10 pct rise in Q2 operating profit, above expectations
November 7, 2017 / 6:23 AM / a month ago

Toyota posts 10 pct rise in Q2 operating profit, above expectations

TOKYO, Nov 7 (Reuters) - Toyota Motor Corp posted on Tuesday a 10.0 percent rise in operating profit for the second quarter as a positive currency impact and cost reductions offset lower vehicle sales at home and in North America.

Operating profit came in at 522.2 billion yen ($4.58 billion), up from 474.6 billion a year ago and above forecasts for 515.3 billion yen from 11 analysts polled by Thomson Reuters I/B/E/S.

Toyota upgraded its full-year forecast for operating profit to 2.0 trillion yen from a previous forecast for 1.85 trillion yen, based on a revised assumption that the yen will trade around 111 yen to the U.S. dollar. ($1 = 114.0000 yen) (Reporting by Naomi Tajitsu; Editing by Himani Sarkar and Muralikumar Anantharaman)

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