Honda Raises Full-Year Forecasts

Honda reported third-quarter earnings of 135 billion yen ($1.49 billion), above analysts' forecasts, and it raised its full-year earnings and operating profit forecasts.
By Joseph Woelfel ,

Updated from 1:20 a.m. EST

TOKYO (

TheStreet

) --

Honda

(HMC) - Get Report

, Japan's No. 2 automaker, reported third-quarter earnings of 135 billion yen ($1.49 billion), above analysts' forecasts.

Honda raised its full-year earnings forecast to 265 billion yen from a previous outlook of 155 billion yen. Its operating profit forecast for the year was raised to 320 billion yen from a previous estimate of 190 billion yen and above analysts' views.

Honda said third-quarter operating profit rose 73% to 177 billion yen, beating analysts' forecasts of 85 billion yen, according to a survey by Thomson Reuters.

Sales in the quarter fell 11.5% to 2.24 trillion yen.

-- Reported by Joseph Woelfel in New York.

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