Honda reports lower Q2 operating profit

[TOKYO] Honda Motor on Friday reported second-quarter operating profit of 198.9 billion yen (S$2.36 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.

REUTERS