Zenien
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Japan's Nintendo Co. expects annual profit to more than double this year to above market forecasts on strong sales of the DS and game software, sending shares up 2.4 percent.
Nintendo raised its operating profit estimate by 28 percent to a record of 185 billion yen ($1.6 billion) for the year to March 31, from a previous forecast of 145 billion yen. It posted a 90.3 billion yen profit last business year.
These sales figures are contasting the problems that Tokyo-based Sony were facing, as last year they cut shipment targets for the PSP and delayed the PS3 launch. Sony expects a loss of 200 billion yen at its game unit this business year.
The earnings upgrade "underlines the strength of the DS and that the Wii is off to a flying start" said Hiroshi Kamide, an analyst at KBC Securities.
Quote:
"At this rate they are going to be a 1 trillion yen sales company next year, which is pretty amazing," Kamide said.
Nintendo raised its operating profit estimate by 28 percent to a record of 185 billion yen ($1.6 billion) for the year to March 31, from a previous forecast of 145 billion yen. It posted a 90.3 billion yen profit last business year.
These sales figures are contasting the problems that Tokyo-based Sony were facing, as last year they cut shipment targets for the PSP and delayed the PS3 launch. Sony expects a loss of 200 billion yen at its game unit this business year.
The earnings upgrade "underlines the strength of the DS and that the Wii is off to a flying start" said Hiroshi Kamide, an analyst at KBC Securities.
Quote:
"At this rate they are going to be a 1 trillion yen sales company next year, which is pretty amazing," Kamide said.
