Toyota's Comeback Gains Momentum
Toyota's quarterly profit more than doubled in its latest quarter as cost cuts and better sales worked with a weakening yen to add momentum to the automaker's comeback.
Toyota's quarterly profit more than doubled in its latest quarter as cost cuts and better sales worked with a weakening yen to add momentum to the automaker's comeback.
The Japanese automaker said earnings fell 39% in the third quarter while sales fell 1.2%. But the company is optimistic that auto sales are recovering: It raised its full-year forecast.
It's suffered massive recalls and a valuable yen, but Toyota is still selling strong. The company Friday reported a second-quarter profit that more than quadrupled to $1.2 billion on sales of $59.5 billion.
When Toyota Motor reports quarterly earnings tomorrow it will give investors the latest snapshot of how big a toll massive recalls and tepid auto sales are taking on the company's bottom line.
Calling all investors: You'll want to pay close attention in the days ahead. The mid-term elections, FOMC meeting, retail sales figures, an update on the labor market and more earnings from Toyota, Starbucks and more could set the stage for quite an interesting week on Wall Street.



