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Thursday, November 05, 2009
Toyota Posts Surprise 2Q Profit
By Darryl R. Isherwood
FOXBusiness
Toyota Motor Co. (TM) Thursday reported surprising second quarter income of $242 million, well above analyst estimates of a loss of $275 million.
Revenue fell in the quarter by 24%, to $50 billion, from $55 billion in the second quarter last year.
As a result, Toyota halved its fiscal year projected loss to $2.2 billion from $5 billion.
