Nintendo Q1 Profit surged up 5 Fold

Nintendo reported Q1 2007 numbers and impresses with profits surges five fold.

Net income of Nintendo climbed to 80.3 billion yen ($668 million) in the three months ended June 30th, from 15.6 billion yen a year earlier.

Nintendo also raised its profit forecast for the year to a cool 245 billion yen, 41% more than Nintendo projected in April. Nintendo increased its Wii console sales target by 18% to 16.5 million for this fiscal year ending March 2008. Nintendo's market value nearly doubled over the last year.
Via Bloomberg.

Demand for the Wii console is still very strong. Supply is still limited. To find a $249 Wii console package is impossible online. Wal-mart offers a $538 Wii bundle; most other stores are sold out. Best chance is still checking local malls.

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