Toyota Motor’s profit rose in the latest quarter as a weak yen and strong demand in North America boosted sales.
Operating profit was ¥1.31 trillion ($8.7 billion) for the April-June period, up 17% from a year earlier, the world’s largest automaker said on Thursday. That was broadly in line with the ¥1.32 trillion that analysts on average had forecast. The operating profit forecast for the fiscal year remained unchanged at ¥4.3 trillion.
Hybrids are selling well in North America, offsetting weak demand for Toyota vehicles in Japan and China. At the same time, a weaker yen is helping boost earnings in the automaker’s home currency.
