Honda reports more than 60% year-on-year drop in quarterly operating profit
TOKYO, Feb 10 (Reuters) - Honda Motor 7267.T said on Tuesday its third-quarter operating profit fell 61.4%, marking a fourth consecutive year-on-year decline, as U.S. import tariffs and weakening demand for electric vehicles weighed on results.
Japan's second-biggest automaker after Toyota Motor 7203.T reported operating profit of 153.4 billion yen ($987.07 million) for the period, missing the 174.5 billion yen average forecast from nine analysts polled by LSEG.
That compared to a 397.3 billion yen operating profit in the same quarter a year earlier.
The company maintained its operating profit forecast for the year ending March 2026 at 550 billion yen. It said its automobile business booked an operating loss for the first nine months of the financial year.
($1 = 155.4100 yen)
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