Nintendo enjoys Q2 profits jump

Nintendo posted a net profit of 144.8 billion yen ($1.5 billion) in the April-September quarter today, up 9.4 per cent from the previous year.

Sales increased 20 per cent to 836.9 billion yen ($8.6 billion), while operating profit surged 34 per cent to 252.2 billion ($2.6 billion).

However, according to Reuters, the firm trimmed its annual forecast – blaming a global economic slowdown and a surge in the yen.

However, the new full-year forecast, still exceeds market expectations. Nintendo raised its sales target for the Wii, saying video game demand remains robust despite the deepening financial crisis.

Nintendo cut its operating profit forecast by three per cent to 630 billion yen ($6.4 billion) for the year to March 31st, 2009.

The latest outlook is still up from 487.22 billion yen a year earlier.