Toyota hikes annual profit forecast after Q3 beats expectations
TOKYO (Reuters) -Japan's Toyota Motor raised its full-year operating profit forecast by nearly 9% on Tuesday, after its third-quarter earnings raced past analysts' estimates thanks to a weaker yen and strong sales of high-margin cars and hybrid vehicles. Toyota shares surged 4.4% after the announcement, recovering from a 0.7% fall earlier. Toyota, a laggard in battery-powered EVs, is seen outperforming competitors this year, helped by robust demand for hybrid vehicles, which it pioneered more than a quarter century ago with the Prius model.