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Honda reports 9pc fall in Q1 profit, beats estimate

Honda reported a 243.2 billion yen profit

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1 year ago

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Honda reports 9pc fall in Q1 profit, beats estimate
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Japan's Honda Motor on Wednesday posted a better-than-expected 9 per cent drop in first-quarter operating profit, squeezed by COVID-19 restrictions in China that curtailed production and higher material costs.

Operating profit for the three months ended June 30 fell to 222.2 billion yen ($1.65 billion), beating an average estimate of 200.2 billion yen in a poll of 10 analysts by Refinitiv.

In the same period a year earlier, Honda reported a 243.2 billion yen profit.

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