Nintendo’s Outlook Disappoints and Mario Can’t Save Wii U
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Nintendo Co.’s cuts to forecasts for profit and sales show even new titles with Mario can’t make consumers choose its Wii U console over other gaming options. The shares slumped the most in more than three years.
The company halved its operating earnings forecast for this fiscal year to 20 billion yen ($170 million) and lowered its sales outlook by 7 percent Wednesday. While the sliding Japanese yen enabled Nintendo to increase its expected net income, all three projections are below analyst estimates.