Gaming (6203)

Nintendo profits up, predictions strong

Triples first-half profit

25 October 2007 11:11 GMT / By Amy-Mae Elliott

Nintendo has nearly tripled its first-half profit and boosted its annual earnings outlook, Reuters reports.

Strong success from both the Nintendo DS and the Ninento Wii has helped its shares jump five-fold in 2 years and Kyoto-based Nintendo raised its operating profit forecast for the year to March to 420 billion yen, in line with analysts' expectations, and up from an earlier estimate of 370 billion yen.

The revised forecast is 86% above the previous year's result and follows an increase in first-half profit to 188.8 billion yen. Nintendo lifted its annual global sales target for the Wii by one million units to 17.5 million and raised its game sales goal by 35% to 97 million units.

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