Nintendo Raises Profit Expectation
Friday, August 29th, 2008Forbes.com reports that Nintendo said earlier today that the company will receive 26% more profit than their previous annual forecast for this year.
They are expecting a net profit of 410 billion yen which translates to $3.8 billion in U.S. dollars. The previous estimate was 325 billion yen which is $3 billion dollars.
Nintendo believes that their DS handheld systems would sell for a total of 30.5 million units this fiscal year while the Wii’s figure would be 26.5 million. The previous estimates for the sales are 28 million for the DS and 25 million for the Wii units. With these changes, they also predicted that the total sales of their DS would reach 197 million units.
The shares of Nintendo in the stock market went up by 8.4% earlier today. Based on their increased expectations, they would offer an annual dividend of $15.45 instead of $12.60.
