Nintendo reports unexpected operating profit in July-Sept 2014 quarter
Reporting its fiscal second quarter earnings on Wednesday, Japanese video game maker Nintendo Co posted an unexpected quarterly operating profit; thanks largely to the fact that the sales of the company's Wii U console witnessed an increase due to the new 'Mario Kart 8' game.
Moreover, a weaker yen also resulted in an increase in Nintendo's earnings from overseas sales. The slowdown in Nintendo's sales overall was counterbalanced by exchange gains of 15.5 billion yen.
According to the figures shared by Nintendo, the company's operating profit during the July-September 2014 quarter was 9.3 billion yen ($86 million); marking a substantial gain over its 18 billion yen operating loss reported during the same quarter last year.
The quarterly operating profit reported by Nintendo is noteworthy, particularly since - as per Thomas Reuters Starmine - analysts had projected that the company would post an operating loss of 3.7 billion yen during the quarter.
Against the backdrop of the profitable fiscal second quarter, Nintendo has reiterated its forecast for a full-year operating profit of 40 billion yen in 2014, as compared to a 46.4 billion yen operating loss in 2013. Analysts, however, have projected that the company's full-year profit in 2014 would be 24 billion yen.
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