Nintendo lowered its earnings forecast for the fiscal year that ended March 31, blaming slow Gamecube sales for the downturn. Nintendo lowered revenue estimates for the past fiscal year to 500 billion yen ($4 billion), from an earlier estimate of 600 bill
The company also lowered it profit esimates, saying it expects 66 billion yen ($547 million) in profit, down from an earlier estimate of 80 billion yen ($663 million). That's a 10% drop in revenue and 38% drop in profit as compared to last year. To date, the company has sold 5.6 million Gamecubes, far short of the 10 million goal that the company had set for the fiscal year.
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