Last week, Canon reported its latest quarter’s financial results, which included some big double-digit drops in revenue and profit. Now it’s Nikon’s turn to show the world how it’s finances are doing. The company reported its latest quarterly results yesterday, and the numbers are decent.
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Canon released its quarterly financial results yesterday, and things aren’t looking so rosy based on Q3 2012. Revenue has fallen 13% to $10.3 billion from the same period last year, and profit dropped 42% to $908 million.
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The business world let out a collective gasp when it was announced back in April that Facebook had agreed to acquire Instagram for a whopping $1 billion. Eric Savitz of Forbes points out that photo publishing company Shutterfly — which has the same market valuation as Instagram — may actually be a smarter buy:
Shutterfly this year is expected to post $582 million in revenue, up a gaudy 137% since 2009. As of the end of March Shutterfly had zero debt and $144 million in cash with another $100 million due to flow in this year. At a market cap of nearly $1 billion, Shutterfly is being told by the stock market that it is worth the same as Instagram, which being acquired by Facebook for $1 bil- lion in cash and stock. While Insta- gram has far more users (30 million), it lacks a few business essentials such as revenue, profit and scale. Instagram has about a dozen employees. Shutterfly, with 1,000 employees, produces photo books, prints and other goods in factories in Phoenix and Charlotte.
An interesting fact from the article: by 2015, Americans will take an average of 322 photos per person per year, or roughly a photo a day.
Leave Instagram To Facebook: Shutterfly Is The Better Buy [Forbes]
Image credit: shutterfly by kate at yr own risk
This past Monday, stock photography behemoth Shutterstock filed documents with the SEC to have an IPO and list its shares on the New York Stock Exchange. The process requires Shutterstock to reveal its financial details, so the document provides an interesting look at how the company ticks and the state of the stock photography industry.
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They say that when it rains it pours, and nowhere is that more evident than with the troubled, once-great photography company Kodak. After filing for bankruptcy, narrowing its focus to printers, and selling the Kodak Gallery for pennys on the dollar, we sort of hoped the company would start to see some rays of sunshine break through their perpetual cloud cover. Unfortunately, their quarter’s earnings report is anything but sunny.
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