Stocks: (MSFT)(SNE)
Nintendo says it will do better than Wall St. expects. And, Wall St. expects a great deal.
The company said that profit for the March fiscal will rise 60% to $1.26 billion. Revenue should be up 45%.
The reason. Sales of the Wii are not cutting into sales of Nintendo’s older game system, the DS. And, investors have been worried about that. As a matter of fact, DS sales are growing at the same time that Wii sales are off to the races. Over 600,000 units of the Wii were sold in the US the first eight days it was on the market.
It is unlikely that Nintento’s success is not taking some share from one of the other game consoles. Microsoft says the Xbox is doing fine.
That leaves Sony. It would be nice if they would come out and say how Playstation 3 and Playstation portable are doing for the holidays.
Ho. Ho. Ho.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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