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Anthony Storo via flickr
The figure was 26.52 billion yen ($ 244.1 million) against 46.26 billion yen a year earlier. Analysts polled by FactSet forecasted the company’s net profit to average 35.67 billion yen.
Canon's revenue for the reporting period decreased by 6.2%, to 869.50 billion yen from 926.50 billion a year earlier, with a forecast of 891.89 billion yen.
The company worsened annual forecasts. Now it expects a profit drop of 45% instead of the expected 37% and revenue drop of 8.3%, rather than 5.2%, as previously expected.
After the publication of the report, Canon shares fell 0.53%. Since the beginning of the year, the company's capitalization has decreased by 2.2%, to 3.14 trillion yen.
source: asia.nikkei.com
Canon's revenue for the reporting period decreased by 6.2%, to 869.50 billion yen from 926.50 billion a year earlier, with a forecast of 891.89 billion yen.
The company worsened annual forecasts. Now it expects a profit drop of 45% instead of the expected 37% and revenue drop of 8.3%, rather than 5.2%, as previously expected.
After the publication of the report, Canon shares fell 0.53%. Since the beginning of the year, the company's capitalization has decreased by 2.2%, to 3.14 trillion yen.
source: asia.nikkei.com
