Brickyard 400 Rebounds From Low '15 Audience Bettman Denies CTE-Concussions Link Big Ten's Delany Hints At Retirement SMU Spending $150M On New Football Facilities HBO's "Real Sports" Hones In On IOC MLS Execs Hosting Technology Event In San Jose Jordan Breaks Silence On Recent Social Unrest Sale Says White Sox Put Business Ahead Of Winning Borders Addresses WNBA Fines Yahoo Sports To Use Current Name For Now
SBD/18/Sponsorships Advertising Marketing
NINTENDO REPORTS A DROP IN PROFITS FOR THIRD STRAIGHT YEAR
Published May 18, 1995
Nintendo has reported a drop in profits for the third consecutive year, citing the strength of the Japanese yen and price competition from overseas. Their profit for the FY ended March 31 totaled $1.14B, down from $1.15B from the previous year. Sales declined by more than 24%. Goldman Sachs analyst Naoko Ito said Nintendo will continue to lose revenue as video game users shift from its older machines to more powerful technology (BLOOMBERG BUSINESS NEWS/N.Y. TIMES, 5/18). The company also announced a trial project to supply British Airways with games for passengers to play during flights (Dawkins & Rowsthorn, FINANCIAL TIMES, 5/18).