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Latest Nintendo results lay bare the company's financial woes

Nintendo already warned earlier this month that its current fiscal situation was looking far worse than originally forecast. Today the company revealed to what extent these issues lie.
Nintendo already warned earlier this month that its current fiscal situation was looking far worse than originally forecast. Today the company revealed to what extent these issues lie, releasing its third quarter results. For the nine months ended December 31, 2013, Nintendo recorded revenues of 499.1 billion yen ($4.8 billion), down 8.1 percent year-over-year, and profits of 10.2 billion yen ($98.7 million), down 29.9 percent. Note that regardless of the profits it is currently recording for the first nine months, Nintendo now estimates that it will incur losses for the full year. That's because the company expects sales to drastically decrease in the fourth fiscal quarter, "due to seasonal factors as the year-end sales season concludes." The company said that Pokemon X & Y on Nintendo 3DS have now sold 11.61 million units since October, while Animal Crossing: New Leaf has sold 3.52 million units worldwide during this fiscal year. Elsewhere, Mario & Luigi: Dream Team has managed 2 million units sold worldwide, while The Legend of Zelda: A Link Between Worlds has seen 2.18 million sales. Unfortunately, while 3DS hardware sales were strong in Japan, the handheld is seeing limited growth in overseas markets like the U.S. The handheld sold 11.65 million units in the first nine months of this fiscal year, and 57.25 million software units. Onto the Wii U, and Nintendo sounded even more downtrodden, stating that it had "reached only 2.41 million" Wii U hardware units sold worldwide during these first nine months. This means the Wii U has now sold 5.86 million units to date. The company was keen to note that The Legend of Zelda: The Wind Waker HD, Wii Party U and Super Mario 3D World have all sold over 1 million copies each, but this wasn't enough to help the Wii U recover.

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