Epson has released its second quarter (Q2) financial report for 2017. The Japanese printer manufacturing giant saw growth compared with the same period last year.
According to Epson, the total revenue of the company in Q2 of 2017 was JP¥254.8 billion (US$2.3 billion), a YOY increase of 6.6%. The entire profit of Epson in Q2 of 2017 was JP¥10.3 billion (US$ 93.11 million), giving it a remarkable year on year (YOY) improvement of 145.2%.
For the printing solutions segment, its revenue in Q2 of 2017 was JP¥165.9 billion (US$1.5 billion), up 5.5% YOY. Profit in this segment during Q2 was JP¥22.1 billion (US$0.2 billion), a rise of 71.9% YOY. Epson indicates profits in this period were a combinination of growth in the sales of high-capacity ink tank inkjet printers and large-format inkjet printers as well as effects from foreign exchange.
During Q2, Epson found the demand for its inkjet printers declined as a result of the shrinking of Japanese and Western European markets. However, the shipments of high-capacity ink tank printers grew in emerging economies as well as developed countries.
Epson had only expected a total revenue of JP¥1,070 billion (US$96.7 billion) and JP¥58 billion (US$0.52 billion) of profit in 2017.
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