Toyota posts 54% rise in Q3 operating profit, hikes full-year forecast (updated)

Aisin

10/02/2021 04:44

TOKYO, Feb 10 (Reuters) - Japan's Toyota Motor Corp  7203.T 
on Wednesday reported a bigger-than-expected 54% jump in
third-quarter profit and jacked up its full-year earnings
forecast, boosted by a rebound in demand for cars as the
coronavirus pandemic's impact recedes and sales climb in China
in particular.
    Toyota, the biggest automaker globally by vehicle sales,
said operating profit rose to 987.9 billion yen ($9.45 billion)
in the three months ended Dec. 31. This was better than an
estimated average of 565.51 billion yen profit from nine
analysts surveyed by Refinitiv SmartEstimate.
    For the fiscal year ending March 31, Toyota said it now
forecasts a record operating profit of 2 trillion yen, far
higher than an earlier prediction of 1.3 trillion yen. 
    The earnings forecast is also well above an average 1.542
trillion yen profit forecast based on predictions from 23
analysts, Refinitiv data shows.
    
($1 = 104.5500 yen)

 (Reporting by Eimi Yamamitsu; Editing by Kenneth Maxwell)
 ((eimi.yamamitsu@thomsonreuters.com;))