Toyota FQ3 net profit surges, raises outlook

|About: Toyota Motor Corporation (TM)|By:, SA News Editor

Toyota (TM) FQ3 net profit jumps more than fivefold to ¥525.4B ($5.2B) from ¥99.91B a year earlier, helped by the weaker yen.

Operating profit climbs almost fivefold to ¥600.5B, topping expectations of ¥575.9B.

Net revenues ¥6.585T vs ¥5.32T.

Toyota has raised its fiscal-year outlook for the third time in three quarters, saying it now expects net income to almost double to a record ¥1.9T ($18.8B) vs a prior forecast of ¥1.67 and consensus of ¥1.87T.

Toyota projects operating profit at ¥2.4T vs previous guidance of ¥2.2T and consensus of ¥2.44T. Revenues are seen at ¥25.5T. (PR)