Toyota Predicts $18 Billion Profit on Weak Yen, SUV Sales
Toyota 3Q Net Income 600B Yen; Est. 549.2B Yen
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Toyota Motor Corp. raised its fiscal year profit forecast and reported quarterly earnings that beat analyst estimates as surging SUV sales and production in Japan make it one of the biggest beneficiaries of a weaker yen.
Net income for the 12 months ending in March may climb to a record 2.13 trillion yen ($18.1 billion), compared with its previous forecast for 2 trillion yen, the Toyota City, Japan-based company said today in a statement. That exceeds the combined estimated profits at Volkswagen AG and General Motors Co. in 2014.