Japanese auto giant Honda
’s first quarter operating profits fell 50% year over year on Wednesday, missing estimates due to U.S. auto tariffs and a stronger yen.
Here are Honda’s results compared with mean estimates from LSEG:
However, Japan’s second-biggest carmaker raised its full-year operating profit forecast by 200 billion yen, or 40%, to 700 billion yen compared to its previous forecast of 500 billion yen.
The U.S. accounted for around a quarter of Honda’s exports from Japan in the first half of the year. Its global sales fell 5% over the period, impacted by declines in China, Asia, and Europe.
