Bloomberg: Nintendo Expects to Profit $1 Billion
Bloomberg reports Nintendo raised it’s earning forecast 20% on the strength of DS sales and Wii targets. The new estimate predicts Nintendo to reap $120 billion yen, about $1 billions for the fiscal year ending March 31.
On top of DS and DS games sales, Enterbrain Inc., a Tokyo-based research firm., said he company has gained ground in home console market after the Wii doubled PS3 sales in Japan during the launch and holiday period.
Nintendo sold 989,118 Wii units in Japan since the console became available on Dec. 2 according to Enterbrain. Sony sold 466,716 PS3 machines in Japan since its Nov. 11 release.
“Nintendo is going like gangbusters, and the Wii consoles are selling like hotcakes,'’ said Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo. “They have momentum, and I think you can expect them to surpass earnings estimates for the next year or two.'’
