After three years of record earnings, the mighty house that Mario built is reporting a net loss of ¥2.01 billion ($25 million) in the fiscal first half ending 30 September versus a profit of ¥69.49 billion a year earlier. In addition to the adverse affects suffered under a strong yen, Nintendo's sales for the first half of its fiscal year were down 35 percent to ¥363.16 billion due to lower demand for its Wii console. According to the
Wall Street Journal, this represents Nintendo's first net loss in the fiscal first half in the last seven years. The future outlook is pretty grim too with Nintendo forecasting an annual profit drop to the lowest level in six years as Wii console sales decline for the second year in a row. Ouch.
Nintendo posts half-year net loss, a first in seven years originally appeared on Engadget on Thu, 28 Oct 2010 05:07:00 EDT. Please see our terms for use of feeds.
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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/kMze7ntwtwI/
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