Honda Profit Misses Estimates as Sales in Thailand Slump
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Honda Motor Co., Japan’s third-largest carmaker, reported profit that missed analysts’ estimates for a 10th straight quarter as slumping demand in Thailand prompted the company to cut sales projections.
Net income climbed to 160.7 billion yen ($1.6 billion) in the three months ended Dec. 31, the Tokyo-based company said in a statement today. Though profit doubled from a year earlier, it was 4.5 percent below the average of eight analyst estimates compiled by Bloomberg. The last time Tokyo-based Honda beat estimates was in the period ended June 2011.