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Nintendo Sinks 7% After Cutting Switch Sales Forecast

  • Company now expects to sell 2 million fewer consoles this year
  • Nintendo got a boost from the weaker yen and Splatoon 3 debut
Updated on

Nintendo Co. shares fell 7.1% on Wednesday after the company cut its fiscal-year forecast for Switch console sales by 10% to 19 million. It was the biggest drop in over a year for the Kyoto-based games maker, which also maintained its operating profit outlook despite strong currency tailwinds.

Operating profit for the quarter ended September was 118.7 billion yen ($809 million), up from 100.2 billion yen in the same period a year earlier. Nintendo revised up its net income forecast for the year, pointing to the weaker yen as a key reason, but kept its full-year operating profit expectation at 500 billion yen.