U.S. markets closed
  • S&P 500

    3,699.12
    +32.40 (+0.88%)
     
  • Dow 30

    30,218.26
    +248.74 (+0.83%)
     
  • Nasdaq

    12,464.23
    +87.05 (+0.70%)
     
  • Russell 2000

    1,892.45
    +43.75 (+2.37%)
     
  • Crude Oil

    46.09
    +0.45 (+0.99%)
     
  • Gold

    1,842.00
    +0.90 (+0.05%)
     
  • Silver

    24.32
    +0.18 (+0.76%)
     
  • EUR/USD

    1.2127
    -0.0022 (-0.18%)
     
  • 10-Yr Bond

    0.9690
    +0.0490 (+5.33%)
     
  • GBP/USD

    1.3438
    -0.0015 (-0.11%)
     
  • USD/JPY

    104.1400
    +0.2800 (+0.27%)
     
  • BTC-USD

    19,096.18
    +47.89 (+0.25%)
     
  • CMC Crypto 200

    365.19
    -14.05 (-3.71%)
     
  • FTSE 100

    6,550.23
    +59.96 (+0.92%)
     
  • Nikkei 225

    26,751.24
    -58.13 (-0.22%)
     

Canon reports first ever quarterly loss, cuts dividend

·1 min read
People are silhouetted against a display of the Canon brand logo at the CP+ camera and photo trade fair in Yokohama, Japan
People are silhouetted against a display of the Canon brand logo at the CP+ camera and photo trade fair in Yokohama, Japan

TOKYO (Reuters) - Japan's Canon Inc said on Tuesday it suffered the first quarterly net loss since it started quarterly disclosures in 2001, as the coronavirus outbreak took a toll on demand for office printers and cameras.

The camera and printer manufacturer also said it would halve dividend payouts for January-June to save cash amid the severe business environment, in what would be the first dividend cut in 33 years.

The net loss in April-June came to 8.8 billion yen ($83.4 million) compared with the prior year's profit of 34.5 billion yen in that quarter. The result far undershot an analyst consensus of 10.6 billion polled by Refinitiv.

For the full year, the company expects net profit of 43 billion yen, down 66% from the previous year.

($1 = 105.5700 yen)

(Reporting by Makiko Yamazaki, editing by Louise Heavens)