November 7, 2019 / 4:37 AM / 12 days ago

Toyota posts 14% rise in Q2 operating profit as car sales rise

TOKYO, Nov 7 (Reuters) - Toyota Motor Corp posted a 14.4% rise in second-quarter profit on Thursday, boosted by a rise in global vehicle sales.

Japan’s biggest automaker posted an operating profit of 662.3 billion yen ($6.09 billion) in the July-September quarter, up from 579.1 billion yen a year ago.

It was higher than an average forecast of 592.3 billion yen based on estimates from nine analysts, Refinitiv data shows.

Toyota maintained its forecast for annual operating profit of 2.4 trillion yen, down slightly from 2.47 trillion yen last year, although it now expects the yen to trade at 107 yen to the U.S. dollar, versus a previous forecast of 106 yen. ($1 = 108.6900 yen) (Reporting by Naomi Tajitsu; Editing by Himani Sarkar)

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