Honda reports record fiscal 1Q profit
enp83 submitted on 7/25/2008 Official Bell & Ross Timestamp: 4:35:59 PM
0 user comments | Category: Misc News | Source: | SOURCE: biz.yahoo.com
TOKYO (AP) -- Honda Motor Co.
reported record profit for a fiscal first quarter Friday as sales growth in new markets offset the damage from a stronger yen and soaring material costs.
The results came a day after U.S. automaker Ford Motor Co. reported its worst quarterly loss ever.
Honda, Japan's No. 2 automaker, earned a better-than-expected 179.6 billion yen ($1.68 billion) in the April-June quarter, up 8.1 percent from the same period the previous year. Analysts surveyed by Thomson Financial had forecast 131.3 billion yen ($1.2 billion) in quarterly profit.
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