Nintendo Sees Q3 Profit Diving 46%, But Keeps Forecast

Sony is owning the web today with its powerful-looking PSP2 and the Playstation Suite cross-device platform for game distribution on Android devices. But what about Nintendo, which caused quite a splash itself with the 3DS announcement recently? Big N announced [PDF] its quarterly financials today, and things are looking OK at best.

The company’s profits were down a whopping 46% year-on-year in the third quarter of the last financial year (October to December in the case of Nintendo) to $1.3 billion, from $2.3 billion in the same quarter 2009.

Nintendo was partially hit by the negative impact of a rapidly rising yen (the company generates 80% of sales outside Japan), apart from weaker hard- and software sales.

For the full financial year (which ends in March), Nintendo kept its initial forecast of $2.6 billion in operating profit though. Hardware-wise, Nintendo slightly lowered sales projections for the Wii from 17.5 to 16 million and for the DS from 23.5 to 22.5 million. In any case, it’s a good thing the 3DS is coming soon.

Image credit: Kaynil / deviantArt