Toyota Announces Huge Quarterly Profits

Toyota reported Friday that its net income in the latest quarter more than quadrupled over the same period last year, as strong sales and cost-cutting measures balanced the strengthening yen.

The Japanese automaker reported fiscal second-quarter net income of $1.2 billion, far outpacing its $270 million net profit over the same period in the prior year.

Toyota cited strong sales, increased marketing and cost-cutting measures as the primary drivers for the much improved numbers. In the six months ending Sept. 30, the manufacturer sold 585,000 more vehicles than in the same period a year earlier.

 
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