News ID: 233549
Published: 0900 GMT October 30, 2018

Nintendo second-quarter profit rises 30%, misses estimates

Nintendo second-quarter profit rises 30%, misses estimates
KIM KYUNG-HOON/REUTERS
A man stands in front of Nintendo's logo at the presentation ceremony of its new game console Switch in Tokyo, Japan, on January 13, 2017. Picture taken January 13, 2017.

Japan’s Nintendo Co. Ltd. reported a 30-percent rise in second-quarter operating profit on Tuesday, albeit missing analyst estimates, as sales of Switch hardware and games drive its earnings recovery.

July-September profit reached ¥30.9 billion ($274.11 million), the Kyoto-based gaming company said, Reuters reported.

That compared with a ¥36.6-billion average of seven analyst estimates, Refinitiv data showed.

Nintendo sold 5.07 million of its Switch consoles over April-September. It maintained its sales forecast for the year ending March at 20 million consoles.

Nintendo Co., Ltd. is a Japanese multinational consumer electronics and video game company headquartered in Kyoto. Nintendo is one of the world's largest video game companies by market capitalization, creating some of the best-known and top-selling video game franchises, such as ‘Mario’, ‘The Legend of Zelda’ and ‘Pokémon’.

 

 

   
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Resource: Reuters
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