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Nintendo reports loss as Wii U and 3DS sales continue to decline

Nintendo reports wider loss as Wii U and 3DS sales continue to slump, but still expects profit for the full year (OTCMKTS:NTDOY)

| Business, Financial & Legal News | Posted: Jul 30, 2014 12:04 pm

Nintendo reported its quarterly earnings recently and racked up another loss for the company during its most recent quarter. Nintendo announced a loss of $97.2 million in the quarter that spanned April to June. The loss in the most recent quarter is much higher than the loss of $48.2 million that it reported in the same quarter of 2013.

 

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Nintendo is blaming the continued losses on disappointing sales of the Wii U and 3DS game consoles. Nintendo is still predicting that it will return to profit for the full year, but with half the year racking up losses that will be very hard to do. Nintendo's sales for the quarter fell to $731 million compared to the $799 million in the same quarter of the previous year.

 

Nintendo reported sales of 820,000 3DS game consoles in the quarter that ended in June and 8.57 million games sold. The Wii U saw 520,000 units sold and 4.39 million games. Mario Kart 8 accounted for 2.82 million of the game sales after a May release.

NEWS SOURCES:Hollywoodreporter.com

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