Shares of Canon (NYSE: CAJ) fell by 2.81% to $27.14 after the company reported Q4 results.
- Earnings per share fell 55% year over year to $0.27, which missed the estimate of $0.42.
- Revenue of $8,772,000,000 lower by 8.92% year over year, which missed the estimate of $9,250,000,000.
- Q1 revenue expected between $34,259,000,000 and $34,259,000,000, compared to the analyst estimate of $33,690,000,000.
- Webcast URL: https://global.canon/en/ir/calendar/
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- 52-week high was at $30.12
- 52-week low was at $25.49
- Price action over last quarter: Up 5.48%
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.