Toyota posted its first profit gain in six quarters on Thursday, Reuters reported. Operating profit for the July-September quarter rose 34% to 1.13 trillion yen. A median forecast from nine analysts polled by LSEG had expected 992 billion yen.
Toyota also raised its annual outlook. It now expects operating profit of 3.9 trillion yen ($24.6 billion) for the year ending March, up from its previous forecast of 3.4 trillion yen. The report describes this as a 15% increase.
According to Reuters, a weaker yen and strong demand for hybrid vehicles offset a drop in sales in China and the Middle East.