Honda profit rises for first time in six quarters, raises full-year forecast
Honda profit rises for first time in six quarters, raises full-year forecast TOKYO, Aug 5 (Reuters) - Honda Motor 7267.T said on Wednesday profit rose for the first time in six quarters as a boost from a weaker yen helped offset declining global sales and higher material costs linked to the Iran war, and raised its full-year forecast.
Japan's second-biggest automaker said operating profit more than doubled to 530.8 billion yen ($3.37 billion) in April-June from 244.2 billion yen in the same period a year earlier. That compared with a median forecast of 302.1 billion yen in a poll of nine analysts by LSEG.
The company raised its full-year operating profit forecast by 30% to 650 billion yen from 500 billion yen.
($1 = 157.7100 yen)
(Reporting by Daniel Leussink; Editing by Jacqueline Wong)
((daniel.leussink@thomsonreuters.com; Twitter: @danielleussink;))
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