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Nintendo profit falls 36% to $241.3 million

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Staff writer |
Nintendo   Revenue was Yen221.5 billion

Nintendo Co. said its net profit for the third fiscal quarter fell 36% from a year earlier, as a lack of blockbuster game titles compared with last year undercut sales of its 3DS device.

Nintendo reported a net profit for the October-December period of Yen29.1 billion ($241.3 million), down from Yen45.2 billion a year earlier. Revenue was Yen221.5 billion and operating profit was Yen33.5 billion, from Yen271.5 billion and Yen31.8 billion, respectively.

The outcome was in line with the median forecast of 14 economists surveyed by FactSet for Yen252.6 billion in revenue, a Yen33.2 billion operating profit, and Yen23.7 billion in net income.

Nintendo kept its guidance for the year through March at Yen570 billion in revenue, Yen50 billion in operating profit and Yen35 billion in net profit.

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