Toyota raises forecast as quarterly profit jumps 14 percent, overseas sales rise on weak yen

Toyota raised its earnings forecast after third quarter profit jumped 14 percent, boosted by a weak yen.

Toyota Motor Corp. reported Wednesday a better-than-expected 600 billion yen ($5.1 billion) profit for the three months through December.

Sales of 6.74 trillion yen ($57.3 billion) were up 8 percent year-on-year.

Analysts surveyed by FactSet had forecast a quarterly profit of 540 billion yen ($4.6 billion).

Toyota, the world's top automaker in global vehicle sales last year, now expects a profit of 2.13 trillion yen ($18 billion) for the fiscal year through March, up nearly 17 percent from the previous year.

The maker of the Camry sedan and Lexus luxury model had previously projected a 2 trillion yen ($17 billion) profit.