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
- NIRP DERP: A Chart Of What Europe Economy Really Looks Like | ZeroHedge
- Inside the Market's Mind: Investment’s Hard Problem...and Why It Can’t Be [Quantitatively] Eased | Financial Sense
- Why the ECB Cannot and Will Not Be Able to Create Growth in Europe | ZeroHedge
- Payrolls Watch: July Challenger Job Layoffs Surge Most In Over 2 Years | ZeroHedge
- Like Dripping Silver Icicles | Financial Sense
- Down Over 2% Today | iBankCoin.com
- More Sellers Than Buyers | iBankCoin.com
The most relevant financial news and articles from the Internets
- America's Best Young Entrepreneurs 2011 | BusinessWeek
- Here's Everything We Know About Tesla's Gigafactory | Business Insider
- Android Is Absolutely Crushing The Smartphone Market — And It’s Not Even Close... | Business Insider
- Which Is America's Best City? | BusinessWeek
- Detroit Tigers Land David Price In Blockbuster Trade | Business Insider
- Unusual 11 Mid-... | StreetInsider.com
- College Grads Group Saw Their Unemployment Rate Fall — For The Wrong Reasons | Business Insider