Honda makes first-quarter operating profit higher than expected

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Honda makes first-quarter operating profit higher than expected

TOKYO, August 4 - Honda Motor Co was announced on Wednesday to a first-quarter operating profit of 243.21 billion yen from a loss of 113.7 billion a year ago as car sales recovered from the impact of the COVID- 19 pandemic.

Percentage of operating profit at Japan's No. 2 car maker by sales for three months ended June 30, was double the average profit estimate of 119.2 billion yen based on 9 analysts surveyed by Refinitiv :

Honda raised its full-year forecast by 18% and now expects an operating profit of 780 billion yen in the current fiscal year, having previously forecast a 660 billion yen operating profit in May.

The new forecast is higher than an average forecast of a 764 billion yen operating profit by 19 analysts polled by Refinitiv.