Nintendo makes surprising comeback after 23.2 billion yen loss in 2013
Japan-based game maker Nintendo is apparently on its way to a surprising comeback, after having reported a 23.2 billion yen ($193 million) loss in 2013.
With Nintendo having posted an unexpected quarterly profit on October 29, the company's stock has witnessed a notable 25 percent increase since then. Quite a few analysts had raised Nintendo's profit estimates or ratings in the past couple of months. Only two market analysts had projected that the company's profit could witness a three-fold increase to 36.8 billion yen.
The reversal of fortunes by Nintendo is apparently an upshot of hit games like Super Smash Bros., along with a new line of interactive figurines called Amiibo. The company is hopeful of selling nearly 3.6 million units of Wii U consoles this year; with Amiibo sales in the US expected to contribute approximately $1 billion to the company's total sales.
With Christmas round the corner, it appears that the 2014 holiday season will be Nintendo's best holiday season in years.
Noting that "Nintendo has picked up good momentum heading into the Christmas season," Tokyo-based analyst Tomoaki Kawasaki - with Iwai Cosmo Securities Co. - said: "This time they have a hit lineup. Amiibo represents a new revenue source, and we are watching it very closely."
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