Nintendo Again Miss Quarterly Sales Targets

By Alastair Stevenson on October 27, 2011, 1:02PM EDT

Though the company managed to beat analysts' pessimistic predictions, Nintendo today revealed a massive 70 billion yen (£576 million) loss for the quarter ending September 30.

The loss falls short of analysts predicted 100 billion yen loss, but remains higher than Nintendo's 35 billion yen prediction last quarter.

Falling sales continued to play a major part in Nintendo's ongoing financial troubles. In its statement Nintendo reported net sales just under its self-imposed target, taking in 215.7 billion yen (£1.7 billion) instead of the predicted 240 billion yen (£2 billion).

The sales in-turn led Nintendo to slash its yearly income estimates from 20 billion yen a (£165 million) profit to a 20 billion yen loss.

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