Chris Evert Places Boca Raton Estate On Market Syracuse Wrapping Up MetLife Stadium Deal LA 2024 Bid Gets $250M Guarantee From State Concerts Expected To Boost U.S. Grand Prix Crowds Chargers Will Not Build Stadium In Mission Valley Epstein's Deal With Cubs Serves As Benchmark UFC Brings 23 Celebrity Investors On Board MLB Game Viewership Lower On ESPN ESPN Negotiates Out-Of-Home TV Deals ScoreBig Providing Order Sources Amid Financial Woes
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).