Nintendo has today released its first-ever quarterly earnings report showing a profit of some 11.5 billion yen ($95.8 million) for the "low demand season" quarter ending June 30. Worldwide sales of 3.24 million Game Boy Advance consoles contributed significantly to the figures for the quarter, with the GBA SP accounting for approximately 85 percent of that figure. Sales of the GameCube have been significantly less impressive, though, with only 80,000 consoles being shipped out to retail worldwide in the last three months.
Nintendo hopes to sell some 6 million GameCubes and 20 million GBA consoles in the fiscal year ending March 2004--targets that, according to Morgan Stanley analyst Shunji Yamashina, the company is likely to miss unless it takes some drastic measures such as price cuts.
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