TweakTown
Tech content trusted by users in North America and around the world
6,250 Reviews & Articles | 40,787 News Posts
TRENDING NOW: Cyanogen CEO: "Samsung couldn't build a good OS if they tried"

Nintendo has now been unprofitable for three straight years

This morning Nintendo reported a net loss of $228 million for its fiscal year of 2013, representing a third straight year in the red for the gaming giant (TYO:7974)

| Business, Financial & Legal News | Posted: May 7, 2014 6:23 pm

Things are not looking good for Japanese video game powerhouse, Nintendo. Today the company released its earnings report for the 2013 fiscal year, and things are not good to say the least. During the last year, Nintendo sold 6.17 million Wii U units, with the last quarter only accounting for about 310k units sold. The Wii U was supposed to be Nintendo's saving grace, but it appears that is not the case.

 

TweakTown image news/3/7/37551_1_nintendo_has_now_been_unprofitable_for_three_straight_years.jpg

 

For the fiscal year of 2013, Nintendo says that it has suffered a net loss of $228 million, which makes this the third straight year of financial losses. In 2011, Nintendo lost $461.2 million, and in 2012 the company posted $366 million in losses. When you tally those up with this morning's report, the once king of gaming has lost more than $1 billion over the last three years. At this rate, Nintendo seems to be hemorrhaging money and it leaves one to wonder just how much longer the company can hold out.

NEWS SOURCESNintendo.co.jp, Mashable.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases