Honda has announced its earnings for the quarter ending June 30th, and its earnings are a bit surprising. Analysts expected a loss of 106 yen/$1.1 billion US, Honda turned around and posted an operating profit of 25.2 billion yen/$267 million US. Honda's profit is in due in part to the Insight hybrid's success in Japan and the Fit and Accord has been helping their bottom line. Honda however, is still forecasting continuing currency issues as the yen is gaining ground verses the US dollar. Honda's Q1 earnings are strong enough for it to raise its 2009 earnings forecast from 40 billion yen/$420 million US to 70 billion yen/$737 million US. Honda has also reportedly raised its vehicle sales forecast to 3.295 million 2009 vehicles, up 85000 units.