Thursday July 28, 2016

Nintendo Posts Biggest Q1 Loss In Five Years

Things just keep getting worse for Nintendo. After that bizarre Pokemon Go stock spike and the subsequent decline earlier this week, the company just turned in the biggest first quarter losses in five years. frown

Nintendo made a net loss of ‎آ¥24.5 billion ($232m/آ£177.3m/آ€211m) in the first quarter of the fiscal year, its largest Q1 loss since 2011. The company made a ‎آ¥8.3 billion ($78.7m/آ£60m/آ€73m) profit in the same quarter last year, but collapsing sales revenue from its current hardware and software - and, it's reasonable to assume, rising costs associated with its forthcoming NX console - drove a swing in a negative direction. Nintendo earned ‎آ¥61.7 billion ($585 million) in revenue during the quarter, down 31% from the previous year.