Toyota shares jumped more than 6% on Friday as it reported second-quarter results that showed a 6.1% increase in sales to ¥3.45 trillion ($22.2 billion), which beat Wall Street forecasts and beat the consensus estimate of a 4% increase.
The company’s quarterly sales beat expectations for a 3.6% increase, and the company’s profit surged 7.2%.
It also reported a gain of ¥1.6 billion ($6.9 million) in the net loss before interest, taxes and depreciation.
Toyota’s earnings per share jumped 14.5% to ¥1,078 yen ($0.97), compared to an increase of 1.1%.
It said it expects adjusted earnings per diluted share of ¥2,095 yen ($3.26) from the current fiscal year.
It said it raised ¥1 billion ($1.2 million) through a stock repurchase program, with a target price of ¥4.2 trillion ($79.6 million).
The company said it was pleased with the performance of its capital projects and its ability to continue its expansion into emerging markets.
The automaker said its revenue for the first half of the year was up 6.6%, compared to a 1.5%-increase for the same period in 2017.
It reported a ¥4 billion ($14.5 million) increase in the yen-denominated gross profit margin.
Toyotas revenue grew 2.4% year-over-year to ¥34.3 trillion ($5.94 trillion).
It said its net profit was up 20.2% year over year to ¥19.7 trillion ($3,984 billion).