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Nintendo posts first half loss in earnings report, slashes forecast yet again

Amar Toor, @amartoo
10.27.11
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Nintendo's latest earnings report may be one of its most forgettable. The company posted a net loss of ¥70.27 billion ($923 million) this morning, in a report covering the first six months of the fiscal year ending on September 30th. That's significantly deeper than the ¥2.01 billion loss Nintendo posted during the same period last year, though Nintendo attributed the result, in part, to a strengthened yen and sagging demand for its 3DS console. Revenue, meanwhile, fell by 40.6 percent on the year, to ¥215.74 billion ($2.84 billion), as the manufacturer reported an operating loss of ¥57.34 billion. Things are looking so bleak, in fact, that Nintendo has decided to slash its financial projections yet again, predicting a net loss of ¥20 billion for the full year (ending in March 2012), compared with the ¥20 billion in profits it projected only in July. And, as Bloomberg notes, if these prognostications hold true, it would mark Nintendo's first annual loss in a full 30 years. Ouch. Check out the full report for yourself at the source link, below.

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