Nintendo shares on the rise again

by Chris Greenhough { Aug 29th 2008 at 4:25PM }

You can barely move in the blogosphere without bumping into another "Nintendo is rich" story, and we're not about to help matters -- sorry.

Anyway, the skinny is that Nintendo shares have soared after the company upped its full-year profit forecast by 26%. It now anticipates that it will sell 26.5 million Wiis (surely taking it past the N64's lifetime sales of approximately 33 million by year end) and 30.5 million DSes during 2008. Ninty also reckons that in the year ending March 31, net income will climb 59 percent to $3.8 billion, a.k.a. a lot of frickin' wonga.

This news does represent a mini-turnaround of sorts in Nintendo's financial fortunes -- before today, the company's stock had fallen 17% since July 30th, but the latest renewed forecast has seen shares boosted by 8.4%. Now if only we'd actually bought some in the late-'90s. Bah. Oh well, clink those champagne glasses, everybody!

[Via NeoGAF]

Tags: business, finance, forecast, shares, stock

Reader Comments (Page 1 of 1)

Mr Khan @ Aug 29th 2008 4:45PM

The time to buy would've been 2003 or early 2004, i think

billy_magnum @ Aug 29th 2008 5:01PM

All I know is, Nintendo keeps making millions, and what do the fans get? One decent game a year, another piece of junk to hook onto the wiimote, no feasible storage solution, a crappy microphone, and the problem of trying to remember the last time I turned my Wii console on....
Hope they take some of that money and give the fans what they want. (end semi-rant)