Nintendo shakes pale economy, reports $2.8 billion profit

By on May 7, 2009, 8:54 AM
Nintendo has come forth with their yearly earnings, showing an 8.5% leap in annual profits. While quarterly figures weren’t divulged, they raked in a record $2.8 billion profit for the fiscal year, an improvement over the previous year’s $2.6 billion. Company sales grew by 9.9% to $18.6 billion from $16.9 billion. Unsurprisingly, overseas sales accounted for 87.5% of the total products moved.

The Kyoto-based company said the video game industry was less impacted by the stale economy than other industries, enabling it to remain stable in spite of increasingly frugal consumers. The company’s earnings topped its own expectations as well as surveyed analysts. Having forecasted to ship 26.5 million Wii systems, it moved 25.95 million, and sold 31.18 million DS handhelds with expectations on 31.5 million.

The Wii-maker foresees a 7.5% rise in net profit to $3.04 billion for the coming fiscal year, with sales decreasing by 2.1% to $18.25 billion. They plan on selling 26 million Wii systems and 30 million more DS handsets, which includes the remodeled DSi. From a software aspect, Nintendo anticipates the sale of 180 million DS titles and 220 million Wii games in the fiscal year ending March 31 2010, from 197 and 204.5 million this year.

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