Nintendo Posts Better Than Expected Results (NTDOY, MSFT, SNE)

The Wall Street Journal reports that Nintendo Co. (OTC: NTDOY) said that its sales for the year end were strong. This was on the back of Wii sales which seemed to have shown better sales after a slump earlier.

However, the strength of the yen and lower prices lowered profitability for Nintendo. The group net income of the company was down 9% as compared to last year. Nintendo’s revenue fell 23% and operating income registered a 41% fall.

The rising yen also played spoilsport coupled with a 20% cut in prices. Wii has higher sales than Microsoft's Xbox 360 (NASDAQ: MSFT) and Sony’s (NYSE: SNE) PS3. But PS3 seems to be catching up fast.