Honda Raises Guidance After Operating Profit Jumps 67%

Honda Motor (NYSE: HMC) raised its guidance for the fiscal year after its operating profit in the quarter that ended on Dec. 31 jumped 67% from a year ago to 277.7 billion yen ($2.65 billion).

Honda said that despite the impact of COVID-19 and an ongoing global shortage of automotive semiconductors, it now expects an operating profit of 520 billion yen ($4.97 billion) for the fiscal year that will end on March 31, up from 420 billion yen in its earlier forecast.

Honda also boosted its dividend.

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Source Fool.com