Benzinga | Jul 28, 2020 10:01AM EDT

Canon: Q2 Earnings Insights



Shares of Canon (NYSE:CAJ) fell 6% after the company reported Q2 results.

Quarterly 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.

Guidance

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%

Company Overview

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.