GamerNode: News - Nintendo's profits up. Surprise!

Nintendo's profits up. Surprise!

Nintendo released their 2nd quarter financial results today and reported a massive profit increase, thanks to the Wii.

Net income took a hop, skip and jump to 132.4 billion yen ($1.2 billion) during the 2nd quarter, which ended in September. This is up from the same period last year at only 54.3 billion yen ($464 million).

The increased income is due to Nintendo selling 7.33 million Wii units during the quarter; though they weren't able to beat rival Microsoft and its Xbox 360 since the Xbox 360 sold more units than the Wii in September -- largely due to Halo 3.

Nintendo is planning several titles for the upcoming holiday season to hopefully rally more Wii sales - Wii Fit, for example.

In the light of events, Nintendo also increased their annual profit outlook to 275 billion yen from a previous 245 billion yen outlook estimated in July. When you're cranking in the income, you have to boast a little.

[Via Bloomberg]

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