Nintendo Swings To Profit

Nintendo Co

posted a profit in the first nine months of the fiscal year. Nintendo posted a net profit of 14.54 billion yen ($160 million), versus a year-ago loss of Y48.35 billion. Its revenue declined 2.4% to Y543.03 billion. For the current fiscal year, it lowered its sales view by 17% to Y670 billion. It now expects an operating loss of Y20 billion, versus its prior forecast of a Y20 billion yen profit. Nintendo shares closed at $13.20 yesterday.