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Nintendo raised its annual forecasts a second time after continued momentum for the Switch console helped the company to its best quarterly earnings since 2008.
The Kyoto-based games company reported operating profit of 229.7 billion yen ($2.2bn), far above the 189.6bn yen average of analyst estimates compiled by Bloomberg.
Nintendo now expects full-year Switch sales of 26.5 million units, having already surpassed its previous projection of 24 million. The company also boosted its forecast for operating profit by 24 per cent on the back of a surge in sales brought on by the coronavirus outbreak and hit game Animal Crossing: New Horizons. Shares rose as much as 2.2 per cent in Tokyo on Tuesday.
TOKYO (BLOOMBERG) - Nintendo raised its annual forecasts a second time after continued momentum for the Switch console helped the company to its best quarterly earnings since 2008.. Read more at straitstimes.com.
What Nintendo needs to keep hitting high score
Nintendo s game character Super Mario
(REUTERS)
Jacky Wong
, The Wall Street Journal
The company looks set to surpass its last record earnings year in 2009 but the fact that that was so long ago holds some warnings for the future
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Nintendo has ridden the stay-at-home wave toward another high score, far exceeding market expectations. But if it doesn’t heed the lessons of its last record-breaking year over a decade ago, investors might need to wait a long time for the next adrenaline rush.
The Japanese game giant’s operating profit for the quarter ending in December almost doubled from a year earlier. That is even higher than the most bullish estimate on S&P Global Market Intelligence. It’s also within touching distance of its most profitable quarter ever in 2008, when its Wii and DS consoles were selling like hot cakes. The Covid-19 pandemic has driven stay-at-home demand for its Switch consoles
Feb 1, 2021
Nintendo Co. raised its annual forecasts a second time after continued momentum for the Switch console helped the company to its best quarterly earnings since 2008.
The Kyoto-based games company reported operating profit of ¥229.7 billion, far above the ¥189.6 billion average of analyst estimates compiled by Bloomberg. Nintendo now expects full-year Switch sales of 26.5 million units, having already surpassed its previous projection of 24 million. The company also boosted its forecast for operating profit by 24% on the back of a surge in sales brought on by the coronavirus outbreak and hit game Animal Crossing: New Horizons.
Soon to enter its fifth year on the market, the portable Switch sold 11.6 million units in the holiday period, up 7% on a year earlier. Sales remained strong even after the holidays and Nintendo has sufficient components supply for now despite industrywide shortages, President Shuntaro Furukawa said. He added that his company doesn’t p
Nintendo raises outlook after beating expectations
Bloomberg
Nintendo Co reported its best quarterly earnings since 2008 and raised its sales outlook as momentum for its Switch console continued while industry-wide supply constraints hampered the launch of rival hardware from Sony Corp and Microsoft Corp.
The Kyoto-based games company said its operating profit was ￥229.7 billion (US$2.2 billion), far above the ￥189.6 billion average of analyst estimates compiled by Bloomberg.
Nintendo upped its annual forecast for the second quarter in a row and now expects full-year Switch sales of 26.5 million units, up from its previous projection of 24 million, which it has already surpassed.
People browse in a Nintendo store in Tokyo yesterday.