Toyota's Earnings Jump 70%

Toyota Motor Corp.'s net income in its July-September fiscal second quarter surged to 438 billion yen ($4.4 billion) from 258 billion yen ($2.6 billion) a year earlier.

The company's revenue for the period expanded 16% to 6.3 trillion yen ($64 billion). Operating income climbed 74% to 592 billion yen ($6 billion).

The strong results prompted Toyota to raise its full-year outlook. The company now expects revenue will grow 13% to 25 trillion yen ($253 billion) and net income will jump 74% to 1.67 trillion yen ($17 billion).

Toyota's estimates assume a 14% weaker yen against the dollar than in the previous fiscal year.

Toyota's global vehicle sales for July-September slipped 12,000 units to 2.24 million year on year. Volume dropped 7% in Japan and 9% in Asia. Deliveries rose 2% in North America, 5% in Europe and 10% in other markets.

Toyota predicts its consolidated sales in the full fiscal year ending next March 31 will be flat at 9.1 million vehicles, as a 4% decline in Asia offsets modest growth in Japan, Europe and North America.