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Honda’s Revenue, Profits Fall
Unfavorable exchange rates cut Honda Motor Co.’s revenue in April-June 6% to 3.5 trillion yen ($35 billion). Net profit was hurt by higher taxes, dropping 6% to 175 trillion yen ($1.7 billion) from the same period last year.
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Unfavorable exchange rates cut Honda Motor Co.’s revenue in April-June 6% to 3.5 trillion yen ($35 billion). Net profit was hurt by higher taxes, dropping 6% to 175 trillion yen ($1.7 billion) from the same period last year.
The company’s worldwide vehicle sales during the fiscal first quarter rose by 20,000 units to 888,000 cars and trucks.
Consolidated operating profit rose 12% to 267 billion yen (€2.6 billion), as cost cutting and a more profitable sales mix offset recall costs, production disruptions and currency rates. Honda left its outlook for the full fiscal year unchanged.
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