Honda Motor Co. (HMC) posted its consolidated financial results for the fiscal second quarter on Tuesday.
The Tokyo-based motobike giant posted consolidated sales revenue of JPY 3.84 trillion, up 1.7% from the same period last year. Sales rose primarily due to increased sales revenue at its motorcycle and financial services business operations.
Consolidated operating profit for the quarter was JPY 214.4 billion, spiking 40.2% on positive impact from sales volume and model mix, and the absence of settlement losses, unlike last year.
Consolidated profit before income taxes rose 16.7% to JPY 283.0 billion, while profit attributable to owners of the parent was up 21.1% to JPY 210.7billion. Attributable EPS was JPY119.66, when one Honda American depository share represents one common share.
Honda to cruise
Earlier this month, General Motors (GM) and its subsidiary Cruise announced a partnership with Honda to develop an autonomous vehicle for Cruise. The trio announced plans to look out the global opportunities for commercial deployment of the Cruise network.
Honda will spend $2.75 billion, including about $2 billion over 12 years for these initiatives and an equity investment of $750 million in Cruise. After this deal, Cruise’s valuation had increased to $14.6 billion, which also includes the recently announced SoftBank investments.
“With the backing of General Motors, SoftBank and now Honda, Cruise is deeply resourced to accomplish our mission to deploy autonomous technology across the globe safely,” said Cruise CEO Kyle Vogt. Cruise has been prototyping a driverless vehicle over the past two years.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO
Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on