The PowerShot series of point-and-shoots – and EOS R series mirrorless – are selling so well that Canon just broke profit records. But, the latest report from the camera giant comes with both highs and lows, as the rising cost of memory remains a significant threat to the company’s bottom line.
Canon shared the first quarter of 2026 financial results on April 23, but the report also highlights key points for photographers – not just investors. Overall sales hit a record, increasing 3.3 percent from the same time period last year. Despite the record-breaking sales, profit was down by 26.1 percent due to higher memory costs, tariffs, and higher sales on budget products.
