Nintendo forecasts Annual Operating profit to double

Nintendo forecasts Annual Operating profit to double

Japanese consumer electronics company Nintendo forecasts yearly operating profit to about double during the year ending March. In March, the company partnered with DeNA to develop game applications to earn more 3 billion yen per month.

Last month, the video game developer DeNA said that the collaboration with Japan's Nintendo has planned to release the first game later this year. In an earnings release, Kyoto, Kyoto Prefecture, headquartered Nintendo said, “A new source of revenue is expected from a gaming application for smart devices which will be released this year”. The company did not disclose any details about its partnership with DeNA.

For the year that started from April 1, Nintendo has forecasted operating profit of about double to 50 billion yen in the year that will end in March, 2016. The company’s forecast was ahead of the 39 billion yen average forecast of 20 analysts to Thomson Reuters data.

According to the company, it has booked an operating profit of about 24.8 billion yen for the last year. The operating helped the company to turn profitable for the first time in the last four years. As per the reports, it was because lower costs cancelled out the effect of weaker revenue.

Nintendo said that new software titles will help the company to bolster sales of the Wii U and portable 3DS in the year ahead. The company forecast that Wii U sales in 2015 will be roughly flat at about 3.4 million consoles, with those of the 3DS likely to fall to around 7.6 million from 8.7 million last year.

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