TOKYO, August 4 (Reuters) – Honda Motor Co swung on Wednesday to a first-quarter working revenue of 243.21 billion yen ($2.23 billion) from a 113.7 billion loss a yr in the past as automotive gross sales recovered from the influence of the COVID-19 pandemic.
Working revenue at Japan’s No.2 automotive maker by gross sales for the three months ended June 30 was double the common revenue estimate of 119.2 billion yen primarily based on 9 analysts surveyed by Refinitiv.
Honda raised its full-year forecast by 18% and now expects an working revenue of 780 billion yen within the present monetary yr, having beforehand forecast in Could a 660 billion yen working revenue.
The brand new forecast is greater than a median forecast of a 764 billion yen working revenue from 19 analysts polled by Refinitiv.
($1 = 109.0400 yen)
Reporting by Maki Shiraki in Tokyo and Norihiko Shirouzu in Beijing; Writing by Jamie Freed; Enhancing by Muralikumar Anantharaman