Toyota Boosts Guidance as Profit Jumps 10%

Toyota Boosts Guidance as Profit Jumps 10%

Toyota Motor Corporation (NYSE: TM) said on Nov. 7 that its operating profit jumped 10% from a year ago in the quarter that ended on September 30, as a weaker yen boosted the Japanese auto giant's export profits.

Toyota's operating profit of 522.2 billion yen ($4.58 billion) came in ahead of the average estimate of 515.3 billion yen from Wall Street analysts polled by Thomson Reuters, and the company raised its profit forecast for the fiscal year that will end on March 31, 2018.

The huge-selling RAV4 has helped keep Toyota's profits strong. Image source: Toyota Motor Corporation.

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Source: Fool.com