Nintendo Earnings Doubled in 2007 Thanks to Wii

Jan. 25 9:20 AM by Lynxara

Nintendo finally revealed its yearly earnings yesterday, and they are huge.

Nintendo's profit for the first nine months of the fiscal year nearly doubled from the previous year, propelled by booming sales of its hit Wii game machine, the company said Thursday.

Nintendo expects to sell 18.5 million Wiis and 29.5 million DSes through March 31st of this year. This would put total DS sales ahead of total GBA sales unless demand slows down.

The news was so positive that it caused Nintendo's stock price to immediately jump upwards 5%.

Bloomberg suggests that part of Nintendo's monstrous profit is coming from the current strength of the yen on the global market. Reuters also mentions cutbacks on advertising expenditures.