Nintendo sees operating loss for the second year in a row, poor Wii U sales

Nintendo reports operational loss for the second time in as many years.

| Apr 24, 2013 at 10:27 am CDT

Things are looking pretty middle of the road for gaming giant Nintendo as the company just closed out its financial year with an operational loss, but saw gains in net income.

Nintendo sees operating loss for the second year in a row, poor Wii U sales | TweakTown.com

Nintendo is expected to announce an 18.7 billion dollar loss for the 2012 fiscal year that just ended March 31st. This will be the company's second yearly loss and the red margins can be attributed to weak sales numbers of the Wii U console. Nintendo's CEO Satoru Iwata has predicted the company will post a 100 billion-yen operating profit for the 2013 fiscal year.

"I don't think Nintendo can achieve 100 billion yen," said Yoshikazu Shimada, an analyst at Tachibana Securities Co. "It's hard for Nintendo to meet the target despite the weak yen's tailwind." Hideki Yasuda, a Tokyo-based analyst at Ace Securities Co. also criticized the CEO saying, "Iwata hasn't produced good results in recent years. He can't avoid being criticized."

Last updated: Jun 16, 2020 at 04:29 pm CDT

NEWS SOURCE:bloomberg.com

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A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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