Nintendo Posts $97 Million Loss After More Than Tripling Wii U Console Sales Last Quarter

Nintendo can't seem to catch a break. The game hardware and software maker reported 74.7 billion yen (~$730.5 million) in revenue during the three-month period ended June 2014, down 8.4 percent compared to the same quarter a year ago. And despite tripling Wii U console sales during the quarter, Nintendo ended up with a 9.9 billion yen (~$97 million) loss compared to an 8.6 billion yen (~$84 million) profit in the same quarter last year.

Even though Nintendo sold 510,000 Wii U consoles during the April-June quarter compared to just 160,000 unit sales in the same quarter a year ago, the Wii U hasn't been flying off of shelves the way Nintendo hoped. Sales of the company's 3DS handheld aren't helping matters either -- Nintendo sold 820,000 3DS handheld consoles during quarter, down from 1.4 million units a year prior.

Wii U

On the bright side, Nintendo hit its sales forecast of 3.6 million Wii U and 12 million 3DS handhelds for its fiscal year through March 2015. Nintendo also reported robust sales of its Mario Kart 8 racing game, which sold 2.8 million units worldwide. More importantly, it helped boost Wii U software sales for the quarter to 4.4 million units, up from only 1 million units a year prior.

Nintendo believes the answer to moving more consoles -- and returning to profitability -- lies in releasing more hit titles. Towards that end, Nintendo plans to finish the year strong by "releasing key titles and launch new products" such as Super Smash Bros. for Nintendo 3DS, Pokemon Omega Ruby, and Pokemon Alpha Sapphire.