Not too long ago, Nintendo was printing money every month after landing two hardware smash hits in a row, the Wii and the DS. But these times are now over, it seems. The company posted their financial report [PDF] for the first six months of their fiscal year (which ends in March 2012) today, and it has registered a loss of US$923 million.
To put things into perspective, the minus for the same time frame in last fiscal was just US$26 million, but the number is at least better than the US$1.3 billion The Nikkei yesterday predicted for Nintendo’s earnings call. Revenue dropped by 41% to US$2.83 billion.
The company is blaming the strong yen and rapidly shrinking 3DS sales (both hardware and games) for the bad numbers.
What’s even worse is that Nintendo is now projecting a loss of US$264 million for the fiscal through March 2012, which would be the first annual minus since big N started reporting its numbers in 1981.