TOKYO (Reuters) – Japan’s Honda Motor reported a 78% rise in quarterly profit on Wednesday, boosted by both increased sales, especially in the North American market, and a weaker yen.
Japan’s second-biggest automaker by sales said operating profit totalled 394.4 billion yen ($2.76 billion) in the three months through June, handily beating the average 324.74 billion yen estimate in a poll of 10 analysts by Refinitiv.
That compared with a 222.2 billion yen profit in the same period last year.
Like other automakers, Honda said it benefited from strong sales in the key U.S. market as the impact of post-pandemic disruptions in the supply of parts and semiconductors eases.
Honda maintained its forecast for a 1.0 trillion yen operating profit for the current year, lower than the 1.117 trillion yen average forecast from 22 analysts.
($1 = 143.1200 yen)
(Reporting by Daniel Leussink; Editing by David Dolan and Chang-Ran Kim)
