TOKYO – Honda Motor Co. is reporting a better-than-expected 174.6 billion yen profit ($1.7 billion) for the fiscal first quarter as it gradually recovers from damage caused by a quake in southwestern Japan.
Analysts surveyed by FactSet had forecast at 133 billion yen ($1.3 billion) quarterly profit.
Honda said Tuesday that April-June profit fell 6 percent from a year ago, when the Japanese automaker earned 186 billion yen. Earlier this year, Honda posted losses over a massive air-bag recall at its supplier Takata.
A strong yen is hurting its results.
Tokyo-based Honda, which makes the Accord sedan and Asimo robot, kept its full year forecasts unchanged at 390 billion yen ($3.8 billion) in profit, up 13 percent from the previous year.
The twin earthquakes in Kumamoto in April damaged Honda's motorcycle plant.