LOSS IN PROFITS: Japanese automaker posted a decline in profit due to two earthquakes that hit their plant in Kumamoto. Image: Honda.
Tokyo - Honda is reporting a better-than-expected $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 $1.3-billion quarterly profit.
Takata airbag saga hurt earnings
Honda said Tuesday that April-June profit fell 6% compared to 2015, when the Japanese automaker earned $1.8-billion. Earlier in 2016, 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 $3.8-billion in profit, up 13% in 2015.
The twin earthquakes in Kumamoto in April damaged Honda's motorcycle plant.