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Nintendo sees first quarterly loss in more than two years

Posted on Thursday, July 29 2010 @ 20:34:59 CEST by


Nintendo announced a second quarter loss of 25.2 billion yen ($289 million), compared with a profit of 42.3 billion yen a year earlier. It's the company's first loss in more than two years, as Nintendo has been hit by a stronger yen and lower demand for DS handheld consoles.
The net loss was 25.2 billion yen ($289 million) in the three months ended June, compared with a 42.3 billion yen profit a year earlier, the Kyoto-based company said today. The game maker said it booked a foreign currency-related one-time loss of 70.5 billion yen.

Nintendo, which saw DS sales plunge 33 percent in the U.S. last month, said a lack of new game titles hurt revenue as it kept its outlook for annual profit to drop to the lowest in four years. President Satoru Iwata plans to introduce a 3-D model of the DS and a heart-rate-tracking “Vitality Sensor” accessory for the Wii console this fiscal year to revive earnings growth.
More info at Bloomberg.



 



 

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