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Nintendo Beats Profit, Lifts Forecast on Pokemon Ahead of Switch

  • Nintendo to start selling new Switch console from March
  • Popularity of Pokemon Go helped to lift 3DS game sales
Bloomberg business news

Hands-On With Nintendo's New Switch Gaming Console

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Nintendo Co. reported quarterly profit above projections and increased its outlook for the year, but anemic sales highlighted how important it is for the company’s new Switch console to succeed.

A weaker yen and brisk holiday sales helped the Kyoto-based game maker deliver profit of 64.7 billion yen ($569 million) for the period ending in December, exceeding analysts’ average projection for 20.5 billion yen. For the fiscal year, profit will be 90 billion yen instead of the previously forecast 50 billion yen, Nintendo said in a statement Tuesday. Still, revenue for the quarter fell 21 percent to 174.3 billion yen, while the full-year outlook was kept at 470 billion yen.