According to a Reuters report, Nintendo has raised their expectations for this year, estimating that they will earn $1.5 billion dollars in profits, an increase of 28% compared to 2006. Of course, with very strong sales of the DS throughout the year and the Wii for the past two months, this certainly looks possible.

Nintendo also increased their DS sales forecast by 15%, and are expecting to sell a whopping 100 million DS games (and 23 million DS consoles). On the Wii side, the expectations have increased to 21 million Wii games, compared to a previous estimate of 17 million. In 2006 the value of the Nintendo stock doubled, and there’s no indication that the stock won’t continue to perform well if Nintendo throws out numbers like these.

Via Joystiq