Andre Yoskowitz
31 Aug 2008 18:37
Nintendo has now raised it forecasted profit for the fiscal year by 26 percent, citing exceptionally strong sales of the Wii and DS around the world.
The company expects its net income to jump 59 percent to JPY 410 billion, the equivalent of 3.8 billion USD for the year ending March 31st. Nintendo believes sales of the Wii will grow 42 percent for the year and has reversed previous comments that the DS will see sales drop offs.
"This is a very big, positive surprise,'' noted Koichi Takatsuka, a senior fund manager at United Investments. "It looks like Wii and DS are selling well, especially in Europe.''
The news prompted Nintendo's stock to jump almost 10 percent on the Osaka Securities Exchange.