'Mario Kart 8' couldn't save Nintendo from a $97 million loss

Mario Kart on the Wii U is really good. Unfortunately it's just one game -- and it looks like it won't be enough to rescue the Wii U's sales. Nintendo apparently agrees, stating that its 9.9 billion yen loss was due to a lack of hit titles outside of the flagship racer. Matter-of-factly, Nintendo said:

"The operating loss was 9.4 billion yen because total selling, general and administrative expenses including fixed expenses exceeded gross profit. "

Which is, well, exactly how you work out an operating loss. The company is now betting on the power of Super Smash Bros. as well as the best-selling Pokemon series to improve results later this year. Wii U console sales have improved in the Americas and Europe: 510,000 units were sold worldwide in the last three months, compared to 160,000 in the same period last year. In Japan, however, Wii U sales have decreased year-on-year. Revenue was 8.8 percent higher than the same period last year and Nintendo is hoping its plans for a series of console-connected toy figurines along the lines of the hit Skylanders series will help to improve that bottom line.

Mario Kart 8 managed to sell 2.82 million copies so far, meaning that relative to Wii U console sales, most players already had the games console to play it on -- and that it wasn't quite enough to convince other consumers to buy what could possibly be a second console.