Sam Byford on Nintendo’s latest quarter:
Revenue was ¥74.7 billion ($731 million), an 8.4 percent decrease on the same period last year, for an overall net loss of ¥9.92 billion ($97.1 million). The 3DS handheld continued its decline, selling 820,000 units over the quarter compared to 1.4 million a year ago. Nintendo hasn’t altered its forecast of a ¥40 billion profit for fiscal 2014, and still predicts that it will sell 3.6 million Wii U consoles during the period.
It’s not just that Nintendo keeps losing money, it’s that they keep refusing to own up to the hardships and forecast accurately. Does anyone really believe the company is going to hit those Wii U sales goals?
Or more importantly, the profit goals? I mean, they now have three quarters to earn ¥50 billion because they are already ¥10 billion in the hole for the year…