Tuesday, January 27, 2015

Nintendo cuts forecasts but still expects a return to profit


Nintendo had a pretty good Christmas. The Kyoto video games giant posted an operating profit of ¥31.4 billion ($266 million) for its third fiscal quarter, selling 1.91 million Wii U consoles and 4.99 million 3DS portables. Net profit was ¥45.2 billion ($383 million), and revenue was ¥271,521 billion ($2.3 billion).


The solid holiday sales won't be enough for Nintendo to meet its forecast of ¥40 billion yen in operating profit for the financial year, however — the company has slashed that target in half, now expecting to make ¥20 billion. Since its account for the nine months so far stands at ¥31.6 billion, Nintendo is predicting it will lose more than ¥10 billion over the next three months.


The earnings release makes no mention...


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