Nintendo Q3 profit drops 46%

As reported by Reuters, Nintendo has reported a 46 percent fall in quarterly profit, as DS sales plummeted ahead of 3DS's launch in February and March.

October-December operating profit at Nintendo was ¥104.6 billion ($1.3 billion), compared with ¥192.3 billion a year ago and versus an analysts' consensus of ¥118 billion yen.

Nintendo cut its Wii sales forecast to 16 million units from 17.5 million units for the year to March.

It also lowered its DS sales forecast to 22.5 million units from 23.5 million.

For the year to March, Nintendo left its operating profit forecast at ¥210 billion, down from ¥356.6 billion the previous year and compared with a consensus of ¥203.5 billion in a poll of 25 analysts by Reuters.

The company revised down its annual profit forecast by a third last September, blaming the strong yen and the fact that it did not have 3DS ready for the Christmas period.

Nintendo shares ended 0.9 percent higher ahead of the results announcement. Over the past year, Nintendo shares have lost 12.5 percent, compared with a 0.7 percent rise in the Nikkei average.

You can get the full earnings release here.