New 52-week Low for Nintendo
Nintendo Co. (PINK:NTDOY) shares hit a new 52-week low today of $29.30. Since Feb 18th Nintendo shares have dropped a staggering 23%.
Traders were not impressed today after the company reported profit falling 66% in its latest fiscal year, 3DS sales falling short of expectations and top it off with Wii sales falling off a cliff.
The only bright spot is Nintendo announced plans to release a new home console to the masses in 2012. Nintendo shares are down 3.76% and trading around $29.60 a share.
Here's the 411 from CNET.com
n its fiscal year that ended March 31 (PDF), Nintendo generated revenue of 1.01 trillion yen ($12.32 billion), representing a steep 29 percent decline year over year. The game company posted a full-year profit of 77.6 billion yen ($946.7 million). That figure was down a whopping 66 percent year over year.
Nintendo's earnings report signals continued trouble at the venerable game company. In September, Nintendo released its six-month earnings statement, which included a $24.6 million loss. During the first nine months of the fiscal year, its revenue and profit tallies were down 31.7 percent and 74.3 percent, respectively.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Aetna's Takeover Of Humana Blocked As Anticompetitive | ZeroHedge
- Goldman: "All Our Clients Are Confused And Unsettled" | ZeroHedge
- "We Are Two Nations... Maybe More!" | ZeroHedge
- Man Who Stole $1.6 Million Bucket Full Of Gold In Midtown Manhattan Has Been Captured | ZeroHedge
- Fakewood EXPOSED: Where Fake News began | ZeroHedge
- A Trade War Is in No One's Interest | Financial Sense
- US Banks: Higher Rates Vs. Weaker Loan Growth | Financial Sense
The most relevant financial news and articles from the Internets
- 'SNL' writer suspended after tweeting a controversial joke about... | Business Insider
- Chinese-backed Faraday Future was seen as a Tesla challenger,... | Business Insider
- A psychologist reveals the easiest ways to get out of this week's... | Business Insider
- The most elite special operations forces in the US | Business Insider
- Trump could teach Pharma investors a hard lesson | Business Insider
- Amazon is flirting with paid search on Alexa (AMZN) | Business Insider
- Researchers say relationships fall into one of 4 patterns — here'... | Business Insider