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Honda’s Quarterly Profit Jumps 20%
Honda Motor Co.'s net earnings rose 20% to 147 billion yen ($1.4 billion) in the company's April-June fiscal first quarter.
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Honda Motor Co.'s net earnings rose 20% to 147 billion yen ($1.4 billion) in the company's April-June fiscal first quarter. Operating income for the quarter advanced 7% to 198 billion yen ($1.9 billion).
Quarterly group revenue climbed 5% to 3 trillion yen ($29.4 billion), as car deliveries grew 9% to 1.06 million units and motorcycle sales advanced 2% to 4.14 million units. Demand for power products fell 5% to 1.59 million.
Honda raised its full-fiscal-year income guidance slightly to reflect the prospects for a weaker yen. The company now expects operating income will grow 3% to 770 billion yen, and net income will rise nearly 5% to 600 billion yen.
Honda predicts its group revenue will climb to 12.8 trillion yen from 11.8 trillion in the previous fiscal year on sales of 4.83 million cars (+12%), 18.08 million motorcycles (+6%) and 6.34 million power products (+5%).
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