World Economy

Nintendo Reports $49m Loss

Nintendo Reports $49m LossNintendo Reports $49m Loss

Nintendo’s quarterly earnings day has never been so anticipated. But the Pokemon phenomenon hasn’t translated into success for the games giant—Nintendo posted a $49 million loss for Q1 on revenue of $587 million, down 30%, Techcrunch reported. Nintendo had already explained that Pokemania has little financial impact on its business, despite taking its valuation past $40 billion in recent weeks, and it was its Wii U business that cut deepest this quarter. Nintendo sold 50% fewer of the console than one year earlier —just 220,000 units—while it also suggested that a stronger yen had an impact given that close to three-quarters of its sales are outside Japan.