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Honda posts 17% fall in Q3 operating profit

Honda Motor Co said on Wednesday third-quarter operating profit fell 17% to 229 billion yen ($1.98 billion) as a persistent global chip shortage curbed car production.

Profit for the three months to Dec was higher than an average forecast of 166.2 billion yen based on estimates from nine analysts, Refinitiv data shows.

The Japanese automaker raised its full-year profit forecast to 800 billion yen from 660 billion. That is higher than a mean profit of 726.5 billion yen based on forecasts by 21 analysts.

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