Nintendo Out-Guns The Competition

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

Nintendo had another monster quarter. Group net profit soared to ¥132.42 billion ($1.16 billion) in its fiscal first half from ¥54.35 billion a year earlier. Group sales more than doubled to ¥694.80billion from ¥298.82 billion, while operating profit shot up 181% to ¥188.78 billion.

According to The Wall Street Journal "since the Wii made its debut in November, Nintendo has sold 13.17 million of the consoles world-wide. It again raised its sales outlook for the Wii for this fiscal year to 17.5 million units from 16.5 million." The company also raised forecasts for its DS game platform.

The holidays are going to be unhappy for Sony (SNE). Its PS3 sales are likely to continue their poor showing even with a new price cut. The Wii is simply too popular.

Douglas A. McIntyre

Get a Free Trial subscription to the 24/7 Wall St. New Media newsletter and follow investment news on companies like Google, The New York Times, Yahoo!, AT&T, Verizon, Comcast and others.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

HPE Vol: 153,197,465
ENPH Vol: 8,360,053
GLW Vol: 18,152,646
APTV Vol: 6,761,325

Top Losing Stocks

TTD Vol: 21,905,513
INTU Vol: 7,383,018
CTRA Vol: 73,319,495
CBOE Vol: 5,000,011
HP
HPQ Vol: 29,259,826