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Analyst: Nintendo Full Year Sales To Exceed $14.5 Billion
by Brandon Boyer
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January 22, 2008
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Ahead of Nintendo's Q3 report expected January 24th, Wedbush Morgan's Michael Pachter has predicted the company will report sales of ¥565 billion ($5.28b), and, despite a conservative outlook, will raise full fiscal 2008 sales guidance ahead of the current ¥1,550 billion ($14.5b).
"Nintendo's recent financial performance has been spectacular and we continue to believe its FY:08 guidance is conservative," said Pachter, noting sales of 13 million Wiis and 54 million DSs through September, before its top-selling holiday.
"We believe that global DS sales were likely around 12 million units during the [third] quarter, and that global Wii sales were around 7 million, placing the company on track to exceed guidance for the fiscal year," he continued.
Pachter says he believes Nintendo will raise its full year guidance at the close of the Tokyo Stock Exchange, which is currently set at ¥1,550 billion ($14.5b) in sales and profits of ¥275 billion ($2.57b).
"Although the company faces some headwind with the strengthening of the Yen," he concluded, "we believe the insatiable demand for Nintendo hardware to continue to fuel upside."
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