Honda Reports 56% Drop In Q2 Net Profit

Honda Motor Co HMC reported a drop in its net profit for the second quarter. Honda's quarterly net profit dropped 56% to Y60.4 billion, from Y135.9 billion, in the year-ago quarter. However, analysts were expecting a net profit of Y62.6 billion. Honda shares gained 1.18% to close at $32.55 on Friday.