Honda posts 9% fall in Q1 profit, beats estimate

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A Honda Crider Sport Hybrid vehicle is seen displayed at the GAC Honda booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song

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TOKYO, Aug 10 (Reuters) - Japan's Honda Motor Co (7267.T) on Wednesday posted a better-than-expected 9% drop in first-quarter operating profit, squeezed by COVID-19 restrictions in China that curtailed production and higher material costs.

Operating profit for the three months ended June 30 fell to 222.2 billion yen ($1.65 billion), beating an average estimate of 200.2 billion yen in a poll of 10 analysts by Refinitiv.

In the same period a year earlier, Honda reported a 243.2 billion yen profit.

($1 = 134.9800 yen)

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Reporting by Satoshi Sugiyama; Editing by David Dolan

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