Honda's Profit Jumps on Strong SUV Sales - Motley Fool
Honda's net profit for the three-month period ended June 30 was 186 billion yen ($1. 5 billion), up from 155. 6 billion yen in the year-ago period. Revenue was 3. 7 trillion yen, up 15. 5%. Honda's share price rose over 3% in early trading on the New York Stock Exchange after the news was announced. At the end of Honda's most recent quarter (June 30), one U. S. dollar bought about 123 yen. For companies like Honda that earn dollars and report profits in yen, that shift has brought a happy windfall. But Honda's earning money the old-fashioned way, too -- or, at least, the same way that most of its rivals are earning it right now: by selling a lot of very profitable trucks. truck sales, which include its Honda and Acura SUVs as well as its midsize Ridgeline pickup and Odyssey minivan, rose over 9% in the second quarter. The early success of Honda's newest SUV, the small Fit-based HR-V crossover, was a big contributor to that gain. Strong sales of the Honda Vezel (that's the HR-V's name in other parts of the world) in China contributed to a 19% jump in Honda's overall sales in Asia during the quarter. Source: www.fool.com
