Soundwave on 24 April 2016
Nintendo had huge profits from Pokemon merchandising/TV/etc. in the early 2000s too along with GBA ... it's not that PS2 wasn't making money ... it's just that Nintendo was making even more, despite being beaten with the Gamecube.
Gamecube also had a fairly high attach rate of software.
Say what you want about Nintendo, but they've made a lot of money over the years with high profit business emphasis and Sony/Sega/Microsoft really weren't able to put a dent in that, it's not until this generation with the rise smartphones/tablets that Nintendo's finally been slowed, but traditional game companies have not been able to stop Nintendo from making tons of money.
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