Japanese videogames giant Nintendo on Wednesday posted a $97 million quarterly net loss, as higher costs tied to sales of its Wii U console dug into its bottom line as sales weakened.<\/p>\n
The Kyoto-based company said its net loss for the three months through June came in at 9.92 billion yen ($97.14 million) on sales of 74.70 billion yen, down 8.4 percent from a year earlier<\/p>\n
The shortfall comes after Nintendo logged its third straight year of losses in the fiscal year ended March, underscoring the challenges faced by the one-time industry titan.<\/p>\n
On Wednesday, Nintendo said it sold 510,000 Wii U consoles globally in the quarter, well up from 160,000 units in the same quarter last year.<\/p>\n
The boost was largely thanks to the launch of the newest instalment of its popular racing game, “Mario Kart 8”, which sold 2.82 million units in the quarter, it said.<\/p>\n
But the company suffered an operating loss of 9.4 billion yen “because total selling, general and administrative expenses including fixed expenses exceeded gross profit”, it said in a statement.<\/p>\n
Nintendo left unchanged its forecast for a 20 billion yen net profit on sales of 590 billion yen for the year to March 2015.<\/p>\n
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