Pachter: Nintendo has over-performed in its first quarter

By Patrick Garratt, Tuesday, 29 July 2008 07:12 GMT

Wedbush Morgan’s Michael Pachter’s issued a note saying he believes Nintendo will show Q1 figures far in excess of estimates tomorrow.

“We expect the company to report results above our estimates for revenue of ¥421 billion and EPS of ¥571 due to very strong hardware sales and better than expected exchange rates, compared to consensus for revenue of ¥400 billion and EPS of ¥623,” said the analyst.

“We expect the company to raise its FY:09 guidance (currently for revenue of ¥1,800 billion, operating income of ¥530 billion, net income of ¥325 billion, and EPS of ¥2,541). This compares with consensus expectations for revenue of ¥1,907 billion, operating income of ¥598 billion, and EPS of ¥2,938.”

WM’s currently listing the Wii-maker as “buy,” saying, “Nintendo’s recent financial performance has been spectacular and we expect this to continue in FY:09.”

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