Nintendos quarterly profit slips 36 percent on lower sales
Tuesday, February 02, 2016 6:23:13 AM ET
TOKYO -- Nintendo Co. reported a 36 percent drop in quarterly profit after lackluster video game sales for the year-end holiday shopping season.
The Japanese manufacturer of Super Mario games and the Wii U game machine reported a 29.1 billion yen ($241 million) profit for the October-December fiscal third quarter, down from 45.2 billion yen the same period the previous year.
The Kyoto-based company, which suffered a blow when its charismatic president Satoru Iwata died in July last year, kept its annual forecasts unchanged at a 35 billion yen ($290 million) profit on 570 billion yen ($4.7 billion) sales for the fiscal year through March.
Quarterly sales slipped 18 percent to 221.5 billion yen ($1.8 billion).