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Nintendo actually turned a profit of $350 million

Nintendo ended a four-year run in the red, netting $350 million during its most recent fiscal year
By: Michael Hatamoto | Business, Financial & Legal News | Posted: May 7, 2015 4:05 pm

Nintendo generated $350 million in net profit for the fiscal year which recently ended in March, a massive increase over a predicted $250 million profit. It's an impressive turnaround for Nintendo, which hasn't turned a profit since 2011 - as the company deals with drastically changing software and hardware markets.

 

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The Japanese gaming company hopes software game sales for the Wii U and 3DS will help add additional revenue - even though it predicted 3.4 million Wii U console sales and a drop in 3DS sales for the current fiscal year.

 

Even though Nintendo hasn't been able to compete with the Sony PlayStation 4 or Microsoft Xbox One, there are still bright signs for the future. The company's partnership with DeNA, for example, to take a more active role in mobile gaming should offer new life into the company: "A new source of revenue is expected from a gaming application for smart devices which will be released this year," according to Nintendo.

NEWS SOURCES:Reuters.com, Abcnews.go.com, Journaldugamer.com

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