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Sales Up, Profits Down for Honda
Honda Motor Co.'s revenue jumped 16% to 2.83 trillion yen (€21.6 billion) in its April-June first fiscal quarter.
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Honda Motor Co.'s revenue jumped 16% to 2.83 trillion yen (€21.6 billion) in its April-June first fiscal quarter.
But global demand for its cars and trucks was flat at 858,000 units, and net income fell 7% to 122 billion yen (€932 million). Honda says its vehicle sales plunged 24% in Japan but rose elsewhere.
The company's quarterly operating profit advanced to 185 billion yen (€1.4 billion) from 176 billion yen (€1.3 billion) in the same period last year. Honda affirms a previous forecast that sales of its cars and trucks will grow 10% to 4.43 million units in the current fiscal year.
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