Nintendo lifts full-year profit estimate by 23%

By Patrick Garratt
29 August 2008 10:49 GMT


Nintendo revised already “out of control” profit estimates today, saying it now expects to clear 650 billion yen ($6 billion) in the year to March, up from its previous forecast of 530 billion yen.

The soft yen, as well as silly demand for Wii and DS, had prompted the change, said the firm.

“The fact that Nintendo is confident to say even before the end of the first half, that overseas sales are this strong, will likely help the stock ride a wave towards the Christmas shopping season,” said Koki Shiraishi, an analyst at the Daiwa Institute of Research.

All we can see is Iwata and Miyamoto, naked, hysterically laughing while rutting holes in a wall of solid gold. More on Reuters.

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