Shares of Canon (NYSE:CAJ) moved higher by 4.1% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share increased 100.00% over the past year to $0.38, which beat the estimate of $0.27.
Revenue of $7,591,000,000 up by 5.77% from the same period last year, which missed the estimate of $7,790,000,000.
Guidance
Canon hasn’t issued any earnings guidance for the time being.
Revenue guidance hasn’t been issued by the company for now.
Technicals
52-week high: $24.22
52-week low: $15.46
Price action over last quarter: Up 13.12%
Company Description
Canon designs, manufactures, and distributes an extensive range of consumer and electronic products, including copiers, cameras, lenses, and inkjet printers. The company operates four major business segments: office, imaging systems, medical systems, and industry and others. Its global customer base and domestically concentrated operations create inherent currency exposure, which can cause performance to fluctuate. Canon’s headquarters and 28 of its 46 manufacturing plants are in Japan, but nearly 80% of revenue is delivered from international markets. The firm has been expanding into new geographies and markets to mitigate this exposure.
