Nintendo saw 46 percent drop in profits

Posted on Thursday, January 27 2011 @ 13:57 CET by Thomas De Maesschalck
Nintendo announced a 46 percent fall in quarterly profit in its fiscal Q3, as sales of the Wii and DS consoles are tumbling.
Underscoring the tough competition, Nintendo cut its sales forecast for the Wii console to 16 million units from 17.5 million units for the year to March. It also lowered its DS sales forecast to 22.5 million units from 23.5 million.

October-December operating profit at Nintendo, which competes with Sony and Microsoft was 104.6 billion yen ($1.3 billion), compared with 192.3 billion yen a year ago and versus an analysts' consensus of 118 billion yen.

For the year to March, Nintendo left its operating profit forecast at 210 billion yen, down from 356.6 billion yen the previous year and compared with a consensus of 203.5 billion yen in a poll of 25 analysts by Thomson Reuters I/B/E/S.
Source: Yahoo News


About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



Loading Comments