Nintendo turns profitable for first time in four years
TOKYO – Japanese videogame maker Nintendo Co Ltd on Thursday reported its first annual operating profit in four years, slightly ahead of analyst estimates, as reduced costs offset the impact of slowing revenue growth.
Profit of 24.8 billion yen ($207.6 million) beat the company’s forecast of 20 billion yen as well as the average estimate of 23.8 billion yen from 20 analysts polled by Thomson Reuters.
Nintendo also forecast operating profit of 50 billion yen for the year started April 1. – Reuters