FILE PHOTO: Honda’s logo on its Modulo model is pictured at its showroom at its headquarters in Tokyo, Japan, February 19, 2019. REUTERS/Kim Kyung-hoon
November 5, 2021
TOKYO (Reuters) – Honda Motor Co on Friday reported second-quarter operating profit of 198.9 billion yen ($1.75 billion) compared with a profit of 282.9 billion yen a year earlier, after a global chip shortage forced it to cut vehicle output.
That result for the three months to Sept. 30 was higher than an average 183.5 billion yen forecast based on estimates from nine analysts, Refinitiv data showed.
Honda also lowered its full-year profit forecast to 660 billion yen from 780 billion yen. That prediction is lower than a mean 764.5 billion yen profit based on forecasts from 20 analysts, Refinitiv data showed.
($1 = 113.6700 yen)
(Reporting by Tim Kelly; Editing by Christopher Cushing)
Source: One America News Network
