Bloomberg
Nintendo Co. (7974), the world’s largest maker of video-game machines, forecast profit this year that missed analysts’ estimates after posting its first annual loss in at least three decades.
Net income may total 20 billion yen ($246 million) for the year ending March 31, the Kyoto, Japan-based company said in a statement today. That compared with the average 32.9 billion-yen profit estimate of 20 analysts compiled by Bloomberg. The company’s forecasts for sales and operating profit also missed analysts’ estimates.
Nintendo, which cut prices of the 3DS model that can beam images in three dimensions, expects to boost sales of the handheld to 18.5 million units this year from 13.53 million last year, the company said. The creator of “Super Mario Bros.” games had a loss last year as consumers turned to Apple Inc. (AAPL)’s iPads and iPhones for gaming and a surging yen hurt the repatriated value of its overseas earnings.
The company plans to sell 10.5 million Wii units, compared with 9.84 million last year.
http://www.bloomberg.com/news/2012-04-26/nintendo-forecasts-return-to-profit-on-cost-cuts-sales-of-3ds.html
