U.S. Markets open in 1 hr 47 mins

Toyota Q2 profit surges 70%

The world's largest automaker reported higher fiscal Q2 sales and earnings for the quarter ended in Sept. Toyota Motor (TM) also raised its full-year earnings forecast as cost cuts and a weaker Japanese yen offset slightly lower vehicle sales. The maker of Prius and Camry models said net profit for the quarter rose to $4.4 bil on revenue of $63.7 bil. The automaker forecast earnings for the fiscal year ending in March of $16.9 bil on expected unit sales of 9.1 mil vehicles. Toyota shares rose 0.5% to 129.20.