Robust 2nd quarter ups Honda’s profit forecast

Honda Motor Co. raised its full-year profit forecast Friday, after reporting a surge in earnings for the July-September quarter on the back of higher sales. Tokyo-based Honda beat analysts' estimates, reporting net profit of 135.93 billion yen, or $1.7 billion, up from 54 billion yen, or $680 million, despite a rise in the yen to near-record levels.

Honda's operating profit also more than doubled, to $2 billion, in the second quarter of the Japanese fiscal year. Sales rose across all of the company's main businesses. Best known as the manufacturer of the Accord and Civic cars, Honda also is the world's largest motorcycle maker and it sells motors for products ranging from boats to lawnmowers.

Honda raised its net profit forecast for the year ending March 31 to 500 billion yen, or $6.25 billion, up from a previous forecast of 455 billion yen, or $5.7 billion, disclosed in July.