Skip to content
Subscriber Only

Nintendo Smashes Expectations With Best Quarter Since 2008

  • Switch maker had its best quarter of sales in over a decade
  • Now expects to sell 26.5 million consoles in the fiscal year
How 'Animal Crossing' Is Preparing Players To Trade Stocks
Photographer: Chona Kasinger/Bloomberg
Updated on

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 yen ($2.2 billion), far above the 189.6 billion 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% 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% in Tokyo on Tuesday.