Toyota profit jumps on strong car sales

Japan's top auto maker said operating profit was 512.42 billion yen (2.36 billion pounds) in the April-June first quarter, up from 405.13 billion yen a year earlier. A survey of eight brokerages by Reuters Estimates had put the mean estimate at 493.4 billion yen.

Net profit rose 39.2 percent to 371.50 billion yen, helped by a weaker yen.

For the year to March, the maker of the Prius hybrid and Camry car has forecast a modest 1.2 percent rise in operating profit to 1.9 trillion yen. Analysts predict 2.03 trillion yen.

Toyota expects its full-year net profit to dip 4.5 percent to 1.31 trillion yen, due to year-earlier one-off valuation gains. Analysts see a slight increase to 1.396 trillion yen, according to 18 forecasts compiled by Reuters Estimates.

Toyota shares fell 6.8 percent in April-June, while the transport sector subindex ITEQP.dropped 8 percent.