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Strong U.S. Sales Bolster Honda Earnings
Honda Motor Co. reports its operating profit rose 16% to 239 billion yen ($1.9 billion) in the fiscal first quarter ended June 30.
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Honda Motor Co. reports its operating profit rose 16% to 239 billion yen ($1.9 billion) in the fiscal first quarter ended June 30. Net profit climbed 20% to 186 billion yen ($1.5 billion).
Honda's consolidated revenue in April-June grew 16% to 3.7 billion yen ($29.9 billion). First-quarter unit sales of the company's cars and trucks advanced 5% to 1.15 million vehicles, aided by improvements of 11% in North America its largest market and 19% in Asia. Those gains offset lower year-on-year sales in Japan (-27%) and Europe (-16%).
The company reiterates its full fiscal year guidance, which includes a 3% increase to 525 billion yen ($4.2) in net profit. Honda's quarterly report marks the first time results have been presented under international accounting standards.
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