Nintendo Jumps Most in Six Months After Profit Tops Estimates
- Switch sales surged 50% from a year ago to 4.8 million units
- Nintendo sticks with conservative full-year earnings outlook
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Nintendo Co. rose the most in more than six months after the company reported profit that beat analyst estimates, helped by a boost to software sales from the introduction of the Switch Lite model.
Operating income rose to 66.8 billion yen ($615 million) in the three months ended September, the Kyoto-based company said, more than the 50.5 billion yen average of analyst projections compiled by Bloomberg. Sales were 271.9 billion yen, compared with estimates of 250.8 billion yen. Nintendo shares rose as much as 5.6% on Friday, the biggest intraday gain since April 19.