Nintendo cuts outlook, sees full-year operating losses

TOKYO Wed Jan 30, 2013 2:21am EST

TOKYO Jan 30 (Reuters) - Nintendo Co Ltd cut its earnings outlook, forecasting an annual loss of 20 billion yen ($220 million) in the year to March compared with its previous forecast of 20 billion yen in profit, as lacklustre sales of its new Wii U games console failed to revive earnings growth at the creator of Super Mario.

The new estimate was far below a consensus estimate of 12.1 billion yen profit from 19 analysts.

In the nine months ended Dec. 31, the Japanese gaming company posted an operating loss of 5.86 billion yen ($64.5 million) compared with a loss of 16.4 billion yen a year earlier.