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Shares of Canon (NYSE:CAJ) fell 6% after the company reported Q2 results.
Earnings per share were down 126.67% over the past year to ($0.08), which missed the estimate of ($0.03).
Revenue of $6,234,000,000 declined by 25.68% year over year, which missed the estimate of $6,780,000,000.
The upcoming fiscal year's revenue expected to be between $29,333,333,333 and $29,333,333,333.
Recent Stock Performance
Company's 52-week high was at $28.41
Company's 52-week low was at $18.69
Price action over last quarter: down 0.75%
Canon designs, manufactures, and distributes an extensive range of consumer and electronic products, including copiers, cameras, lenses, and inkjet printers. 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.
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