Honda reports a rise in quarterly profit
Quarterly sales inched up less than 1% to 3.7 trillion yen
Stocks impacted: Honda Motor Co (7267)
Honda posted a nine-month operating profit of 447 billion yen (US$4.26 billion), down 30% from 639.25 billion yen a year ago. Meanwhile, its third-quarter net profit more than doubled, thanks to cost cuts and higher car sales in the U.S. and Japan. The company’s net profit for the quarter ended December 31 rose to 284.05 billion yen ($2.70 billion) from a 116.43 billion yen net profit a year earlier. Third-quarter revenue rose 0.6% to 3.772 trillion yen. The Japanese automaker’s quarterly sales inched up less than 1% to 3.7 trillion yen ($35 billion). Also, the Japanese automaker revised its operating profit forecast upward to 520 billion yen in the current business year ending in March from 420 billion yen it forecast three months ago. Honda stocks finished 1.19% lower on Tuesday.
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