Nintendo profit increased almost fivefold

Nintendo profit increased almost fivefold

Quarterly profit producer of game consoles Nintendo has grown almost five times due to the weak yen. In this case, because the same currency doubly company lowered its forecast for annual operating profit.

For the third fiscal quarter, which ended in December 2014, net profit amounted to 45.22 billion Nintendo yen (about $ 382.33 million) against 9.6 billion yen ($ 81.4 million) a year earlier. Analysts, which refers to The Wall Street Journal, predicted income at 35.5 billion yen ($ 300.1 million).

Quarterly operating income increased to Nintendo 31.8 billion yen ($ 268.8 million) from 21.7 billion ($ 183.4 million) in October-December 2013. Revenues reached 271.5 billion yen ($ 2.3 billion).

Over the last three months of last year, the Japanese company sold 7.08 million consoles Nintendo 3DS, which is about 40% less year on year. Despite the decline, the total number of units sold has exceeded 50 million units.

Sales volume consoles Nintendo Wii U was 1.91 million units in the third fiscal quarter. Sales of these vehicles declined slightly, but for all the time they have been shipped in the amount of 9.2 million units.

New Year Eve demand was insufficient to Nintendo retained forecast operating profit for the current fiscal year at 40 billion yen ($ 338.2 million). The company now expects revenue of 20 billion yen ($ 169.1 million). The fact that the original estimate was based on a higher appreciation of the yen against the dollar and the euro, and now the Japanese currency has weakened considerably.

Nintendo profit increased almost fivefold updated: January 30, 2015 author: John Malkovich