Cue Disingenuous Hand-Wringing Over Nintendo’s Future
It prints (slightly less) money
Should be any minute now since Nintendo’s profits are down a half-billion bucks:
BY THE NUMBERS: Nintendo is forecasting its first drop in profit in six years for the fiscal year through March 2010, at 230 billion yen ($2.4 billion) profit. Sales were weak earlier in the fiscal year while a strong yen and the price cuts also reduced profitability. Nintendo reaped a record 279.1 billion yen profit for the fiscal year ended March 2009. Nintendo does not break down quarterly numbers. The Kyoto-based manufacturer expected to sell 20 million Wii machines and 30 million DS machines in the 12 months through March 2010. Analysts surveyed by Thomson Reuters, on average, expect fiscal year profit of 229 billion yen ($2.4 billion).
Does it matter that they still profited (not revenues, profits) to the tune of 2.4 billion bucks? Not if it gets in the way of bi-annual ‘Nintendo is doomed’ articles from those experts on finance and market cap in the gaming press, it doesn’t. (On the plus side, the frequency of such articles is way down, so far, this year…finally…but not for long.)