Nintendo posts annual profit which misses analysts’ estimates

On Wednesday, bigwig video-game console maker Nintendo reported its annual profit figures which fell short of the analysts' expectations, apparently because of stalling demand for the company's Wii U consoles and 3DS handheld players.

The net income posted by Nintendo for the 2013 fiscal year that ended March 31 was ¥7.1 billion; which was far lower than the average projections of ¥14 billion median estimated by 15 analysts in a Bloomberg poll. The sales of the company in the reporting year witnessed a drop of 1.9 percent to ¥635 billion.

Nonetheless, the net income reported by Nintendo marked the company's return to profitability in both Net and Ordinary income, after it posted a whooping ¥43.2 billion loss a year back --- the first fiscal loss for the company in the last three decades or so.

With the operating income of Nintendo still being negative, the company said that it is hopeful of returning to Operating Income profitability as well by the end of the current fiscal year; chiefly due to the fact that it has a strong line-up of exclusive gaming content which will be launched in the coming months.

The forthcoming titles from Nintendo include Wii U-specific games like Mario Kart, Super Mario Bros., Wii Fit, and Pikmin; as well as Mario & Luigi, and Pokemon franchises for Nintendo 3DS; and The Legend of Zelda for both Wii U and Nintendo 3DS.

AustrianTribune Specials

On Wednesday, bigwig video-game console maker Nintendo reported its annual profit figures which fell short of the analysts' expectations, apparently because of stalling demand for the company's Wii U consoles and 3DS handheld players.

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