April 25, 2018 / 6:15 AM / 6 months ago

Japan's Canon Q1 profit rises 5.3 pct, misses estimates

TOKYO, April 25 (Reuters) - Japan’s Canon Inc reported a 5.3 percent rise in first-quarter operating profit on Wednesday due to strong demand of semiconductor-making equipment. The firm, which also makes of cameras and printers, posted operating profit of 77.1 billion yen ($707.14 million) for the three months through March, from a year-before profit of 73.2 billion yen.

The result missed the 85.03 billion yen average of 3 analyst estimates in a Thomson Reuters poll.

Canon maintained its annual profit forecast for the year ending December at 404 billion yen, versus a consensus estimate of 406.36 billion yen from 18 analysts. ($1 = 109.0300 yen) (Reporting by Makiko Yamazaki Editing by Christopher Cushing)

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