Honda Profit Misses Analyst Estimates on Yen, Expenses
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Honda Motor Co., Japan’s third-largest carmaker, reported first-quarter profit that missed analysts’ estimates after the yen strengthened and the company increased marketing spending to sell outgoing models.
Net income was 131.7 billion yen ($1.7 billion) in the three months through June, Honda said in a statement today. That missed the 150.7 billion yen average of seven analyst estimates compiled by Bloomberg. Except for Japan, earnings from all of Honda’s main regions were below expectations.