Nintendo releases quarterly earnings report: 61 percent drop in profit, grim forecast

Nintendo released its latest quarterly earnings report this morning and, as with last quarter's report, there's not a whole lot to celebrate. The company posted profits of ¥40.9 billion (about $631.6 million) for the October - December period, representing a 61 percent quarterly drop. That's especially disappointing, considering that this period has traditionally been strong for Nintendo, which had previously forecast an operating profit of ¥1 billion (around $12.9 million). Those forecasts have since changed, however, with the manufacturer now predicting a ¥45 billion ($580 million) operating loss for the full year, ending March 31st. Nintendo blames the poor showing to sagging 3DS sales, which have forced it to slash prices. Read the report in full, at the source link below. Nintendo releases quarterly earnings report: 61 percent drop in profit, grim forecast originally appeared on Engadget on Thu, 26 Jan 2012 02:53:00 EDT. Please see our terms for use of feeds. Permalink Reuters  |  Nintendo (PDF)  | Email this | Comments from Engadget http://www.engadget.com

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