By Justina Lee
Canon Inc. said Thursday that its fourth-quarter net profit rose 64% from a year earlier, supported by better demand for camera and inkjet printers in the second half of the year.
Net profit for the quarter was 53.59 billion yen ($514.8 million), exceeding the Y33.40 billion estimate from a FactSet poll of analysts.
Its revenue fell 0.8% to Y945.74 billion, higher than the Y916.38 billion estimate by analysts in the poll.
For 2021, Canon said it expects net profit to jump 38% to Y115.0 billion and revenue to rise 7.6% to Y3.4 trillion.
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