Tuesday October 3, 2006 7:14 pm
DS Sales Lead Nintendo To Higher Profit Forecast
Nintendo raised their profit forecast for the fiscal year by 20 percent, based on rising sales of its Nintendo DS console and a weakening yen. For their fiscal year ending March 31, Nintendo now believes that net income will be approximately 100 billion yen, roughly $851 million US. Nintendo has typically adjusted profit forecasts based on currency exchange fluctuations in the past, but this announcement is the first time in a long while that Nintendo’s estimates have changed based on stronger than predicted sales of a video game console. Nintendo of Japan has been delivering roughly 100,000 to 150,000 DS consoles to store in Japan each week, and the consoles sell out nearly as quickly as they arrive.
Read More | Bloomberg
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