Nintendo to post unexpected loss as Wii successor falters

Logo of Nintendo Co is pictured outside the company headquarters building in KyotoTOKYO (Reuters) – Japanese games maker Nintendo Co Ltd cut its earnings outlook and forecast a second straight year of annual losses, as the sales of its new Wii U games console lost momentum. The company forecast an annual loss of 20 billion yen ($ 220 million) in the year to March, slashing its previous forecast of as much in profit, and falling well short of a consensus estimate of 12.1 billion yen profit from 19 analysts. "It was a somewhat negative surprise," said Yasuo Sakuma, portfolio manager at Bayview Asset Management. …

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