TOKYO – Honda reported Tuesday its fiscal third-quarter profit more than doubled to $2.7 billion, despite the novel coronavirus pandemic, as auto sales grew in Japan and the U.S.
Honda's quarterly sales inched up less than 1%, to $35 billion.
Cost cuts also helped boost Honda's bottom line, despite difficulties caused by the pandemic, including computer chip shortages, according to Tokyo-based Honda. The maker of the Accord sedan, CR-V crossover and Asimo robot said it carried out a major review of its operations to streamline expenses.
Honda raised its profit forecast for the year through March to $4.4 billion, up from the previous projection for a $3.7 billion profit. But it warned the outlook remains uncertain because the effect from COVID-19 was still unclear.
Companies reduce hiring in December
U.S. employers cut back sharply on hiring in December, particularly industries slammed by the pandemic such as restaurants and hotels, as virus infections soared and governments responded with tighter restrictions.
The number of available jobs rose slightly and layoffs fell, according to the Labor Department's Tuesday report, known as the Job Openings and Labor Turnover Survey. The report provides more granular detail about the job market than the government's monthly employment figures.
Employers cut hiring 6.6% in December, to 5.5 million, the report said. About three-quarters of the decline occurred in a category that includes restaurants, bars, hotels, casinos, concert halls and other entertainment venues. Warehousing and shipping firms also slashed hiring, the report found.
Tuesday's report provides overall hiring and job posting figures.
Job openings rose just 1.1% in December to 6.6 million, the report found. That leaves the number of job postings significantly below the pre-pandemic level of 7 million last February.
Twitter up 27% in 3rd-quarter users
Twitter posted solid results for the last three months of 2020, capping what CEO Jack Dorsey called “an extraordinary year” for the platform.
New users signed on in large numbers to follow the world's events in real time despite the challenges of election misinformation and intensifying calls to ban now former President Donald Trump.
Twitter had 192 million daily users, on average, in the third quarter, up 27% year-over-year. By comparison, Facebook had 1.84 billion daily users on average in December, an increase of 11% year-over-year. Twitter doesn't disclose monthly figures.
The Link LonkFebruary 10, 2021 at 01:06PM
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Cuts, sales lift profits for Honda | Business | Journal Gazette - Fort Wayne Journal Gazette
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