Canon Q1 Net Profit Down 33.5%

Canon CAJ reported a 33.5% drop in its net profit for the first quarter. Canon's quarterly net profit fell to Y40.91 billion ($411.35 million), from Y61.54 billion, in the year-earlier period. Its sales declined 1.5% to Y816.65 billion, while operating profit dropped 33.8% to Y54.77 billion. However, analysts were expecting a net profit of Y52.15 billion on sales of Y833.70 billion. For the current year, Canon now projects a net profit of Y290 billion on sales of Y3.98 trillion. Canon shares closed at $38.86 yesterday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsprofit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!