Honda Profit Falls 16% After U.S. Sales Sag
Honda Motor Co., Ltd. (NYSE: HMC) said that its operating profit fell 16% in the quarter that ended on June 30, to 252.4 billion yen ($2.36 billion), on lower U.S. sales and an exchange-rate shift that weighed on overseas earnings.
But despite the decline, Honda maintained its profit guidance for the full fiscal year, saying that its ongoing cost-reduction efforts are on track.
Honda's U.S. sales fell 4.3% in the second quarter. Image source: Honda Motor Co., Ltd.
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