Nintendo expects first annual loss in at least three decades - chicagotribune.com

A man walks past Nintendo Co. Ltd.'s video game software titles at a Yamada Denki electronics retail store in Tokyo.

Co.said it will probably post a loss in its current fiscal year — its first in at least three decades.

The Japanese video game company said Thursday that it expected to lose $839.4 million in the fiscal year that ends March 31 on $8.5 billion in revenue, 16.5% lower than it had projected in October.

The revised forecast was far worse than many had predicted. Analysts polled by Thomson One had projected the company to lose $293.1 million on revenue of $9.8 billion in its fiscal year that will end March 31.

It would be the first annual net loss since 1981, when Nintendo began disclosing its financial performance.

For the quarter that ended Dec. 31, Nintendo posted a $282.8-million gain on $4.4 billion in revenue. Analysts had forecast a $405.5-million profit on $4.8 billion in revenue.

... , which also playsBlu-ray movies. The company also lost many casual players, many of whom turned to free games on social networks and games on their mobile phones or tablets.