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Honda Quarterly Profit Doubles
Honda Motor Co. reported fiscal third quarter profit of 161 billion yen ($1.6 million) for the October-December period, up from 77 billion yen a year earlier.
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Honda Motor Co. reported fiscal third quarter profit of 161 billion yen ($1.6 million) for the October-December period, up from 77 billion yen a year earlier.
Operating income increased 73% to 229 billion yen ($2.2 billion). Revenue for the fiscal third quarter surged 25% to 3 trillion yen ($30 billion), helped by new vehicle models, the depreciation of the yen and cost reductions.
Honda delivered 900,000 vehicles during the quarter, up 7% from the same period in 2012.
The Tokyo-based automaker reduced its fiscal year forecast for global vehicle sales to 4.39 million from a previous estimate of 4.43 million and cut its forecast for motorcycle sales to 17.1 million from 17.3 million.
Honda reiterates its full-fiscal year forecast for revenue of 12.1 trillion yen ($118 billion) and net income of 580 billion yen ($5.6 billion).
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