Nintendo Shares Tumble Despite Stellar Earnings

Reuters report: "Investors have also been concerned about the impact of a weaker dollar versus the yen, which erodes the profits of exporters like Nintendo when repatriated into the Japanese currency.

The dollar traded on Monday around 106.56 yen, after touching a low of 104.95 yen last week -- the weakest since May 2005.

Nintendo, the creator of the game characters Mario and Zelda, said last week its quarterly profit more than doubled in October-December, and raised its annual operating profit outlook for the third time in the current business year to March.

But the company left its annual net profit forecast unchanged as the yen's strength is expected to lower the value of its foreign assets, shifting investor attention to currency-related risks".

Read Full Story >>
Oculus Quest Giveaway! Click Here to Enter
The story is too old to be commented.
PS360WII4372d ago

heh all stocks took a blow thanks to the rumored "recesion" the US might eventually get into. Yet if your stocks have been doing nothing but going up you'd have to expect it to go down once in awhile.

wiizy4371d ago

nintendo cannot lose this generation haters. no matter what the news..