wraggster
January 27th, 2012, 00:59
http://www.blogcdn.com/www.engadget.com/media/2012/01/nintendo-1327563681.jpg (http://www.engadget.com/2012/01/26/nintendo-releases-quarterly-earnings-report-61-percent-drop-in/)
Nintendo released its latest quarterly earnings report this morning and, as with last quarter's report (http://www.engadget.com/2011/10/27/nintendo-posts-first-half-loss-in-earnings-report-slashes-forec/), 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 (http://www.engadget.com/tag/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 (http://www.engadget.com/tag/WiiU/) 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.
http://www.engadget.com/2012/01/26/nintendo-releases-quarterly-earnings-report-61-percent-drop-in/
Nintendo released its latest quarterly earnings report this morning and, as with last quarter's report (http://www.engadget.com/2011/10/27/nintendo-posts-first-half-loss-in-earnings-report-slashes-forec/), 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 (http://www.engadget.com/tag/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 (http://www.engadget.com/tag/WiiU/) 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.
http://www.engadget.com/2012/01/26/nintendo-releases-quarterly-earnings-report-61-percent-drop-in/