Nintendo posts first half loss in earnings report, slashes forecast yet again

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Nintendo's latest earnings report may be one of its most forgettable. The company posted a net loss of ¥70.27 billion ($923 million) this morning, in a report covering the first six months of the fiscal year ending on September 30th. That's significantly deeper than the ¥2.01 billion loss Nintendo posted during the same period last year, though Nintendo attributed the result, in part, to a strengthened yen and sagging demand for its 3DS console. Revenue, meanwhile, fell by 40.6 percent on the year, to ¥215.74 billion ($2.84 billion), as the manufacturer reported an operating loss of ¥57.34 billion. Things are looking so bleak, in fact, that Nintendo has decided to slash its financial projections yet again, predicting a net loss of ¥20 billion for the full year (ending in March 2012), compared with the ¥20 billion in profits it projected only in July. And, as Bloomberg notes, if these prognostications hold true, it would mark Nintendo's first annual loss in a full 30 years. Ouch. Check out the full report for yourself at the source link, below.

Nintendo posts first half loss in earnings report, slashes forecast yet again originally appeared on Engadget on Thu, 27 Oct 2011 04:28:00 EDT. Please see our terms for use of feeds.

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