Nintendo turns a profit but misses sales forecast by half

Sales of the Wii U stand at only 3.45 million worldwide, but Nintendo has reported a profit of ¥7.09 billion ($71.3m/£46.7m) for the financial year.

While the net income is almost half the company's previously estimated profit of ¥14 billion, the company has managed to turn around the whopping loss of ¥43 billion it reported last year--the first annual loss the company has ever posted.

3.45 million Wii Us have been sold globally as of March 31 2013, with fewer than 400,000 being sold in the last three months. The Wii U was outsold by the Wii, which sold 3.98 million units across the company's financial year.

Nintendo blamed poor sales of its devices in North America and Europe, though noted that the 3DS has now become the console of choice in Japan.

Wii U worldwide software sales stand at 13.42 million units as of March 31. Nintendo Land makes up 2.6 million of that figure, while New Super Mario Bros. U has also shifted 2.15 million copies.

Meanwhile, the 3DS has sold 31.09 million units and 95.03 million games. Super Mario 3D Land remains the 3DS sales king with 8.29 million copies sold worldwide, and recent release Luigi's Mansion: Dark Moon has managed to gain 1.22 million buyers since launch.

Nintendo's net sales were also slightly down on last year, but damage to the company's bottom line was mitigated slightly thanks to financial gains made by the currency exchange.

For the next financial year the publisher predicts it will sell 9 million Wii U consoles worldwide. 3DS expectations are higher at 18 million.

Previous reports had suggested Nintendo would announce a loss of ¥18.7 billion for the financial year.