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Nintendo raises profit outlook - shares do double jump

Filed under: Nintendo | Nintendo DS | Nintendo Wii | Video Game Business
Posted by Jeremy on August 29, 2008 10:37 AM
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Shares of Nintendo closed up more than 8% today on an updated profit forecast which beat expected profits by 26%.

The company said it expects to post net income of 410 billion yen, or $3.8 billion, for the year ending March 31, surpassing Wall Street's expectations of 382.6 billion, according to Bloomberg. That anticipated performance marks a 59 percent increase in profits over the previous year.

Of course, the reason for the success is the Wii, Wii Fit, and the DS, plus all of the software that they sell.

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