Latest in Gaming

Image credit:

Nintendo releases quarterly earnings report: 61 percent drop in profit, grim forecast

Amar Toor, @amartoo
01.26.12
40 Shares
Share
Tweet
Share
Save

Sponsored Links

Nintendo released its latest quarterly earnings report this morning and, as with last quarter's report, there's not a whole lot to celebrate. The company posted profits of ¥40.9 billion (about $631.6 million) for the October - December period, representing a 61 percent quarterly drop. That's especially disappointing, considering that this period has traditionally been strong for Nintendo, which had previously forecast an operating profit of ¥1 billion (around $12.9 million). Those forecasts have since changed, however, with the manufacturer now predicting a ¥45 billion ($580 million) operating loss for the full year, ending March 31st. Nintendo blames the poor showing to sagging 3DS sales, which have forced it to slash prices. Also on Thursday, President Satoru Iwata told reporters that his company plans to release its new Wii U console across the US, Europe Australia and Japan in time for the 2012 year-end holiday season. Read the report in full, at the source link below.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
40 Shares
Share
Tweet
Share
Save

Popular on Engadget

The best mobile devices for students

The best mobile devices for students

View
‘Streets of Rage 4’ is shaping up to be a worthy sequel

‘Streets of Rage 4’ is shaping up to be a worthy sequel

View
'Beyond’ delivers the ‘No Man’s Sky’ experience I was waiting for

'Beyond’ delivers the ‘No Man’s Sky’ experience I was waiting for

View
iDevices' Alexa-powered smart light switch finally goes on sale

iDevices' Alexa-powered smart light switch finally goes on sale

View
Apple Music's latest playlist suggests new tracks every day

Apple Music's latest playlist suggests new tracks every day

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr