GO
Loading...

Enter multiple symbols separated by commas

Nintendo Raises Sales, Profit Forecasts for 2007

Nintendo raised its sales and profit forecasts for the business year just ended for the fourth time on Thursday, citing robust demand for its DS handheld games.

The company said sales totaled about 966 billion yen ($8.1 billion) for the year ended March 31, up from its previous forecast of 900 billion yen, and compared with a consensus of 929 billion yen in a poll of 17 analysts by Reuters Estimates.

Nintendo , which competes with Microsoft and Sony in the $30 billion video game industry, said its profits are also likely to have exceeded its prior projections, but it did not give specific figures.

The Kyoto-based company said it now expects a foreign exchange-related profit of 20 billion yen for the 2006/07 business year, rather than its previous forecast of a 10 billion yen loss.

Nintendo, known for such game characters as Mario and Pokemon, plans to report profit figures when it announces its annual earnings on April 26.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • CEO discuss the 'Buffett factor'

    John Stumpf, Wells Fargo chairman & CEO; Kenneth Chenault; American Express chairman & CEO; Ginny Rometty, IBM chairman & CEO; and Muhtar Kent, Coca-Cola chairman & CEO, discuss their relationships with Warren Buffett and marvel at just how easy it's been to communicate with him.

  • Rometty on Watson: He never stops learning

    IBM CEO Ginny Rometty talks Watson, and how it's going to help people make decisions. It never stops learning, she says. Rometty also discusses the company's dividend.

  • Why Buffett bought more IBM

    Berkshire CEO Warren Buffett addresses his purchase of more IBM shares and allegations of predatory lending at Clayton Homes.