Japan’s Honda Motor blamed human error for Monday’s release of its financial results several hours before schedule, sparking a stock market frenzy.
Like many firms, Honda releases its earnings figures after markets close at 3:00 pm (0600 GMT). But an unspecified gaffe meant the automaker’s results appeared on a website earlier than scheduled, the company said.
Investors rushed to dump Honda’s stock, which closed 4.65 percent lower at 2,399 yen in Tokyo, after learning that full-year profit would come in around 375 billion yen ($4.7 billion), 20 percent lower than forecast.
Earlier this month, Google suffered the same fate when it also accidentally released its weaker-than-expected quarterly results early.
Honda blames human error for earnings mishap
