AP's Yuri Kageyama mentioned in a Yahoo! Finance article covering Honda's earnings that:
Honda kept its profit outlook for the full fiscal year ending March 2007 at 550 billion yen ($4.7 billion) but revised its sales forecast upward to 10.7 trillion yen ($91.6 billion) from the forecast in April for 10.6 trillion yen ($90.7 billion).
Honda's global sales increased by 6.7% in the quarter to 896,000 vehicles. Sales in the U.S. were up by almost 9% to 456,000, Asia ex-Japan up by 15% to 153,000, domestic Japan fell by 6.6% to 156,000, with total overseas sales growing by 10% to 740,000. By the way, Honda sold 71,000 vehicles in Europe during the quarter down slightly y-o-y.
Radio Nikkei reported that Honda didn't revise upward its profit forecast for the year because a continued weak yen results in higher raw materials costs, partially offsetting forex gains.
Honda also announced a share buyback today, allowing for up to 6-million shares (0.33% of shares outstanding) to be repurchased between August 2nd and October 13th for a maximum amount of 18 billion yen ($155m).
For more details of Honda's Q1 earnings visit its investor relations website by clicking here.
Honda's ordinary shares (Tokyo: 7267) gained 0.53% to close at 3,770 yen ($32.36) ahead of its after hours earnings release. Its ADRs closed yesterday up 2.28% at $32.25.
Honda Motor Co (HMC) 1-year chart: