Hondas quarterly profit ballooned to a record 272.4 billion yen ($3.2 billion) and the carmaker raised its full year earnings forecast as sales grew in North America, Japan and the rest of Asia. The maker of the Insight hybrid, Fit subcompact and Odyssey minivan said on Friday its profit for April-to-June increased 36-fold from 7.5 billion yen a year earlier when Japanese automakers were slammed by the financial crisis and global market slump.
Renault H1 profit beats estimates on recovery
Renault SA, Frances second-largest carmaker, posted a first-half profit that beat estimates as the global economic recovery boosted demand for autos. Net income was 780 million euros ($1.02 billion), compared with a 2.73 billion-euro loss a year earlier, the carmaker said in a statement distributed at its headquarters in the Paris suburb of Boulogne-Billancourt. Analysts had expected profit of 377 million euros, based on the average of estimates compiled by Bloomberg.
Samsung net up 83% on chip demand recovery
Samsung Electronics, Asias biggest maker of semiconductors, flat screens and mobile phones, said second-quarter profit jumped 83% to a record, fuelled by a recovery in demand for computer-memory chips. Net income climbed to 4.28 trillion won ($3.6 billion) from 2.33 trillion won a year earlier, the Suwon, South Korea-based company said on Friday. Profit exceeded the 4.15 trillion won average of 11 analyst estimates compiled by Bloomberg.
British Airways Q1 loss widens on crew strikes
British Airways Plc said its first-quarter loss widened after strikes by cabin crew grounded flights and a volcanic ash cloud closed the companys London Heathrow hub. Ticket prices rose as demand for travel increased. The net loss was 122 million ($191 million) in the three months ended June 30, widening from 106 million pounds a year earlier, London-based British Airways said in a statement today. Analysts had predicted a loss of 167.5 million.