Canon lifts annual profit forecast on recovery in printer sales

Image
Reuters TOKYO
Last Updated : Jul 27 2017 | 11:48 AM IST

TOKYO (Reuters) - Japan's Canon Inc raised its annual operating profit forecast on Thursday in its second upward revision this year, helped by a recovery in printer sales.

The company, which also makes copiers and cameras, forecast profit of 330 billion yen ($3 billion) for the year through December, up from 270 billion yen estimated three months prior.

That compares with an average forecast of 297.14 billion yen from 21 analysts surveyed by Thomson Reuters I/B/E/S.

The company also said second-quarter operating profit climbed 40.4 percent to 96.3 billion yen, beating the 81 billion yen average of five analyst estimates.

($1 = 111.0200 yen)

(Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 27 2017 | 11:41 AM IST

Next Story