January 31, 2019
By Sam Nussey
TOKYO (Reuters) – Japan’s Nintendo Co Ltd reported a 36 percent jump in quarterly operating profit on Thursday buoyed by strong software sales of its hybrid home-portable Switch console, though it cut its full-year hardware forecast for the device.
The Kyoto-based gaming company said it expected to sell 17 million Switch units from 20 million previously – a figure that had been treated with scepticism by investors and added to pressure on its share price.
However, Nintendo upgraded its Switch software forecast to 110 million units from 100 million previously, announcing that hit titles “Super Smash Bros. Ultimate” and “Pokemon: Let’s Go” have both shifted over 10 million copies.
The company sold 14.5 million Switch consoles in the April-December period along with 94.6 software units.
Operating profit for October-December was 158.6 billion yen ($1.46 billion), Nintendo said. That compared with the 149 billion yen average of 11 analyst estimates compiled by Refinitiv.
Renewed investor enthusiasm following reports of strong demand for Switch software have helped lift the company’s shares 16 percent this year. The stock closed up 2 percent ahead of the earnings.
(Reporting by Sam Nussey; Editing by Christopher Cushing)
from One America News Network http://bit.ly/2Tv63go
via Lolysnews.blogspot.com
Comments
Post a Comment