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Nintendo raises profit forecast

Posted on Sunday, April 08 2007 @ 14:04:10 CEST by

Nintendo raised its sales and profit forecasts for the fourth time on Thursday for the business year just ended. The good results were caused by robust demand for DS games and the success of the new Wii console.
Nintendo's strategy to broaden the overall game-playing population paid off handsomely with the DS as well as its new game console, the Wii, proving a smashing success. Both the DS and Wii focus on intuitive, easy-to-play games.

The company said sales totaled about 966 billion yen ($8.1 billion) for the year ended March 31, up from its previous forecast of 900 billion yen, and compared with a consensus of 929 billion yen in a poll of 17 analysts by Reuters Estimates.

The Kyoto-based company, known for such game characters as Mario and Pokemon, did not give specific figures for its profits but said they are also likely to have exceeded its prior projections.

In its third earnings revision for the year, announced in January, Nintendo said it expected an operating profit of 185 billion yen and net profit of 120 billion yen, both of which would already be record numbers.

It plans to report actual profit figures when it announces its annual earnings on April 26.
More info at Reuters.



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