Friday, August 29, 2008

Nintendo revises its financial forecasts upward yet again

Okay, this console war is getting really boring. Nintendo
is thrashing everyone else. Today, the Japanese company revised upward
its financial forecasts for the six months ending Sept. 30, 2008. It
also upped its forecasts for game hardware and software during the
period, as well as for its full fiscal year that ends March 31, 2009.

Compared with original full year forecasts issued on April 24, 2008,
the company now sees increases in sales by 11 percent, in operating
income by 22.6 percent, and in net income by 26 percent. Strong sales
of the Nintendo Wii game console and the Nintendo DS handheld, as well
as better foreign currency exchange rates, are the reasons for the
better forecasts.

The company credited stronger sales of the Wii and Nintendo DS, as
well as changes in the expected foreign currency exchange rates.

Nintendo now expects to sell 30.5 million DS hardware units in the
full fiscal year, compared to 28 million expected earlier in April. It
expects to sell 197 million DS games, compared with 187 million
predicted earlier. It expects to sell 26.5 million Wii hardware units,
compared to 25 million earlier, and 186 million Wii games, compared to
177 million earlier. Nintendo also raised its dividend.

Credit :