Nintendo raises net profit forecast on Switch console and yen
The Kyoto-based video game giant said it now expects an annual net profit of 120 billion yen
31-year-old Nao Imoto posing with her newly purchased Nintendo Switch game console at a shop in Tokyo. Nintendo nearly doubled its full-year profit forecast as it pointed to sizzling sales of its Switch games console and a cheaper yen for the upbeat outlook. PHOTO: AFP
Nintendo upgraded its annual net profit estimate by more than 40 per cent Wednesday after its popular Switch console flew off shelves during the holiday season, fuelled by a cheaper yen.
The Kyoto-based video game giant said it now expects an annual net profit of 120 billion yen ($1.1 billion), a 41.2 per cent rise from the previous estimate issued in October, while also increasing annual sales and operating profit projections.
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The company cited strong sales of Switch as lifting its performance during the April-December period.
The Kyoto-based video game giant said it now expects an annual net profit of 120 billion yen ($1.1 billion), a 41.2 per cent rise from the previous estimate issued in October, while also increasing annual sales and operating profit projections.
US product lets investors triple bet on popular tech stocks
The company cited strong sales of Switch as lifting its performance during the April-December period.