Nintendo May Cut Earnings Forecast
by Andy Goergen - 4:58 pm EDT
Total comments: 13
Source: Bloomberg
The gaming market leader may be looking at their first annual profit decline in six years.
A combination of factors, including a decline in Wii console sales and the strengthening of the yen, may bring Nintendo to cut its earnings forecast and report its first annual profit decline since the fiscal year ended March 2004. Bloomberg reports that, in the consensus opinion of analysts, Nintendo's net income might fall as much as 11 percent to 249.3 billion yen ($2.7 billion) this fiscal year.
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