Toyota Posts Quarterly Profit As Car Sales Rise

Updated: Wed 5:48 AM, Aug 04, 2010

TOKYO (AP) - Toyota appears to be recovering from both the economic mess and the battering its reputation took over massive safety recalls.

The company reports a quarterly profit of $2.2 billion, reversing the red ink from a year earlier. Toyota also raised its full year earnings forecast today.

The world's biggest automaker says revenue for its fiscal first quarter surged 27 percent to $57.3 billion as vehicle sales improved in Japan and overseas including North America and Asia.

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