Japan's Nintendo Co Ltd on Thursday reported a 428% jump in first-quarter profit, driven by ongoing demand for the Switch console and hit title Animal Crossing: New Horizons as the coronavirus outbreak boosts the games industry.
FILE PHOTO: The logo of the Nintendo is displayed at Nintendo Tokyo, the first-ever Nintendo official store in Japan, at SHIBUYA PARCO department store and shopping mall complex, in Tokyo, Japan, Nov. 19, 2019. REUTERS/Issei Kato/File Photo
Operating profit for April-June was 144.7 billion yen . That compared with an average estimate of 71 billion yen from 12 analysts polled by Refinitiv SmartEstimate. The firm sold 5.7 million Switch consoles in the first quarter, breaking down as 3 million of the hybrid home/portable Switch units and 2.6 million units of the portable-only Switch Lite, which went on sale last September.
The games pipeline for the Switch is unusually bare. Nintendo said on Thursday it would release an enhanced version of Pikmin 3, originally released for predecessor console Wii U.
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