Nintendo Profits Soar
Up 43% from last year.
by Micah Seff
January 29, 2007 - Forbes.com is reporting that the massive sales of Nintendo's Wii have driven the company's earnings up 43 percent over last year for the nine-month period ended December 31, 2006.
These reports from Nintendo helped its stock hit a 52-week high of 34,150 yen ($281.114) on Friday. In the past year, Nintendo's stocks have seen an increase of 113%; making most of us here wish we had some foresight.
Nintendo's net income for the first nine-months of the fiscal year was a whopping 131.92 billion yen ($1.1 billion), topping the company's lofty 12-month profit forecast of 120 billion yen ($996 million), and obliterating last year's 92.19 billion yen ($764.6 million) for the same period.
While much of these results were no doubt due to the Nintendo DS's stranglehold on the Japanese handheld market, Nintendo accredited its increase to the successful launch of the Wii in all regions. According to NPD market reporting data, Nintendo shipped 1.1 million units to North America, with Nintendo claiming that there are several hundred thousand more that are not included in that figure. In Japan, the Wii also sold through 990,000 units in December, almost twice the sales of rival Sony's PlayStation 3 in its two months on store shelves.
Now nintendo is doing it right. They have a great console and a great handheld. Nintendo is making tons of cash while the others a selling their consoles at a loss. What do you guys think of this?
Up 43% from last year.
by Micah Seff
January 29, 2007 - Forbes.com is reporting that the massive sales of Nintendo's Wii have driven the company's earnings up 43 percent over last year for the nine-month period ended December 31, 2006.
These reports from Nintendo helped its stock hit a 52-week high of 34,150 yen ($281.114) on Friday. In the past year, Nintendo's stocks have seen an increase of 113%; making most of us here wish we had some foresight.
Nintendo's net income for the first nine-months of the fiscal year was a whopping 131.92 billion yen ($1.1 billion), topping the company's lofty 12-month profit forecast of 120 billion yen ($996 million), and obliterating last year's 92.19 billion yen ($764.6 million) for the same period.
While much of these results were no doubt due to the Nintendo DS's stranglehold on the Japanese handheld market, Nintendo accredited its increase to the successful launch of the Wii in all regions. According to NPD market reporting data, Nintendo shipped 1.1 million units to North America, with Nintendo claiming that there are several hundred thousand more that are not included in that figure. In Japan, the Wii also sold through 990,000 units in December, almost twice the sales of rival Sony's PlayStation 3 in its two months on store shelves.
Now nintendo is doing it right. They have a great console and a great handheld. Nintendo is making tons of cash while the others a selling their consoles at a loss. What do you guys think of this?
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