Nintendo profits up 77.2 percent

Nintendo profits up 77.2 percent

While Sony and Microsoft are both struggling to make profits from their videogame console divisions, Nintendo continues to shine in this field.

The Japanese videogame console maker Nintendo has come out with their latest revenue report and the company has reported that their net profit grew by more than two-thirds in the last fiscal year.

Nintendo benefitted from their hugely successful Wii and DS consoles which continue to sell in huge numbers. In fact Nintendo Wii is still in short supplies in most markets.

Nintendo reported that their net profits grew to 174.3 billion yen in the 12 months to March, up 77.2 percent. The company added in a statement: “The video game industry is now on a growth path with strong performances in both Nintendo DS and Wii.”

Hiroshi Kamide, an electronics analyst at KBC Securities Japan had this to say about the company: “Nintendo’s fiscal 2006 results were even better than the good figures analysts had forecasted.”