Honda reports more than 60% year-on-year drop in quarterly operating profit

TOKYO, Feb 10 (Reuters) – Honda Motor said on Tuesday its third-quarter operating profit fell 61.4%, marking a fourth consecutive year-on-year decline, as U.S. import tariffs and changes in the market environment for electric vehicles weighed on results.

Japan’s second-biggest automaker after Toyota Motor reported operating profit of 153.4 billion yen ($987.07 million) for the period, compared with a 174.5 billion yen average forecast from nine analysts polled by LSEG and 397.3 billion yen in the same quarter a year earlier.