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Nintendo raise yearly financial forecast by 11%

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Posted September 1, 2008 by admin in Gaming

For the six months ending September 30, Nintendo now expects a net income of ?165 billion ($1.5 billion) on revenues of ?830 billion ($7.6 billion), a respective increase of 32 percent and 9.2 percent over previous projections. For Nintendo’s full fiscal year ending March 31, 2009, the publisher now anticipates revenues to soar to ?2 trillion ($18 billion), an 11.1 percent rise over its previous estimates. Year-end profits are expected to see a similar spike, jumping 26.2 percent over the publisher’s previous forecast to ?410 billion ($3.8 billion).

Nintendo’s new estimates are based on assumed average exchange rates of ?105 per US dollar (compared to ?100 previously) and ?160 per euro (up from ?155). As of press time, current exchange rates stand at ?108 per dollar and ?159 per euro.

Of course, to capitalize on those exchange rates, the company needs to move a significant amount of product, and Nintendo has had no issues getting its massively popular Wii and DS into gamers’ hands. Nintendo’s consoles have consistently blown away the competition in the global console race.

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