Honda Motor Co. has boosted its operating income forecast for the full year but gave guidance that missed analyst estimates, leaving investors disappointed as the automaker embarks on an ambitious plan to go all electric by 2040 and make highly autonomous cars a reality.
Operating income for the 12 months ending March should touch ¥780 billion ($7.1 billion), up from previous expectations for ¥660 billion, Honda said in a filing Wednesday. Analysts had been looking for around ¥803 billion.
For the first quarter ended June, Honda reported operating income of ¥243.2 billion — more than double the average analyst estimate of ¥100.8 billion.