I read somewhere that Nintendo maybe making more in net profits in the video game industry than all other video companies combined. Could that be true?

I wouldn't be surprised if they make more than all others. The biggest two other companies(Sony and Microsoft) have profits between zero and negative billions. I wonder if they count Sony's negative profit against the positive profit of other more successful companies when they made the comparison of all other companies.

Probably.

I am not sure but I doubt it. Is that just consoles, how about PCs? I would think that Activision-Blizzard would be making a fair bit between GH3, WoW, and CoD although I am just guesssing. I assume EA is going to make a good chunk, with their eternal franchises, as well but again just guessing. I assume there are also a lot of small players out there as well with smaller profits that add up.

Last I heard Nintendo averages $50 profit for every Wii Console sold. Not to mention accessories and other games, as well as virtual console I'm sure they are doing well for themselves.

They will probably make between $3-4 billion dollars for the fiscal year. It will probably be the largest amount ever made by a single company in the video game business in one year.

They made 132,421 million yen or around $1.2 billion in the first six months of the fiscal year without holiday sales.

It prints money!

I agree with FishyJoe.

If we're talking consoles, then does anyone here honestly think the rest of the industry is making 3-4 billion combined? I don't.  Considering:

EA is losing money
Take Two is losing money
Konami is losing money
Sony is losing a TON of money

The only companies making major money on consoles right now are Activision, Nintendo... and... ?

I don't think there is any question. Especially if you include the above companies as negative profits, which you probably should. 

It is scary indeed. Nintendo made more money in one year than other companies made in a entire generation. I can not help but think how much would they make if they were in Sony`s place the last 2 generations.

Isnt Nintendo making more profits than all of Sony? I mean the entire corporation? Take 2 is doing quite well this year with Bioshock and defintiely will nest year with GTA 4. Ubisoft is also doing quite well the gen with hits like Assassins Creed, Splinter Cell DA, Ghost Recon AW, and Rainbow Six Vegas.