Nintendo stock nosedives on poor Wii U sales

#1UltraPlanetPosted 1/18/2014 3:54:53 AM
http://www.gamespot.com/articles/nintendo-stock-nosedives-on-poor-wii-u-sales/1100-6417202/?utm_source=gamefaqs&utm_medium=partner&utm_content=news_module&utm_campaign=hub_forum

Shares down more than 15 percent after company announces negative revisions to Wii U and 3DS sales projections.

Nintendo can't catch a break. After announcing dismal Wii U sales and diminished financial projections today, shares of the Tokyo game giant have plunged more than 15 percent. The company is currently trading down more than 17 percent to $14.90.

It may not only be the downwardly revised sales projections for the Wii U and 3DS that has investors spooked. President Satoru Iwata said today said the company is considering orienting itself around a "new business structure" that could involve a greater emphasis on smartphones.

Nintendo today slashed its Wii U sales forecast for the period ending March 31, 2014 to 2.8 million consoles, down from 9 million, representing a decrease of almost 70 percent. 3DS sales projections for the same period fell from 18 million to 13.5 million.

Finally, Nintendo said it now expects to post a loss of 25 billion ($240 million) for the year, compared to a previous forecast for a profit of 55 billion ($527 million). If Nintendo does end up in the red, it will mark the company's third straight annual loss.

Despite the poor performance, Iwata will not resign as Nintendo's top executive.
#2ssjgohhkuPosted 1/18/2014 4:00:27 AM
Ouch.
#3its_mattPosted 1/18/2014 4:02:25 AM
Unless they spend more on developing for WiiU I don't see how the situation will improve for it and if they discontinue it soon I can't see them releasing another home console, because who would buy it?
#4Nice_Kirbyfan9Posted 1/18/2014 4:02:58 AM
Looks like they wont be buying Sony and Capcom anytime soon...
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#5squatch22Posted 1/18/2014 4:05:38 AM
Old.

Shares are up again.

Fail.
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#6EoinPosted 1/18/2014 4:07:52 AM
These are ADRs. Nintendo's main listing is on the Nikkei and the dismal forecast revisions were - very intentionally - released after the market closure on Friday. So the main stock moves (which will be drops) will happen on Monday morning.
#7Master AlienPosted 1/18/2014 5:06:24 AM
squatch22 posted...
Old.

Shares are up again.

Fail.


Oh look someone who doesn't know how stock markets work.

Fail.
#8RazzbberryPosted 1/18/2014 5:07:10 AM
Master Alien posted...
squatch22 posted...
Old.

Shares are up again.

Fail.


Oh look someone who doesn't know how stock markets work.

Fail.


Yes he is ignorant but don't attack him please just educate him
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#9The_DjokerPosted 1/18/2014 5:19:46 AM
squatch22 posted...
Old.

Shares are up again.

Fail.


seriously, I worry for kids like you if Nintendo does go out of console business. This level of Delusion isn't good for Nintendo as a whole.
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#10The_DjokerPosted 1/18/2014 5:21:11 AM
Razzbberry posted...
Master Alien posted...
squatch22 posted...
Old.

Shares are up again.

Fail.


Oh look someone who doesn't know how stock markets work.

Fail.


Yes he is ignorant but don't attack him please just educate him


Educating Squat?

Hahahahaha. If you could educate people like that everyone would be doctors and scientists.
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