Can Nintendo do no wrong? So it seems as Nintendo today raised its earnings projection for a fourth time for the fiscal year just ended. (read) Nintendo had expected sales of 900 billion yen, but said that new estimates put sales at 966 billion yen, or $8.1 billion.
Nintendo went on to say that they now expect a "foreign exchange-related profit of 20 billion yen for the 2006/07 business year, rather than its previous forecast of a 10 billion yen loss." (Reuters)
Why the sunny forecast? Sales of the DS, DS software, and the Wii have been strong in the first three months of the year, typically the time when games do the worst. Add to that the strong holiday season and the fact that they're the darlings of the press right now and you can see why their stock price has doubled over the past year.