Nintendo Cuts Outlook as Questions About a Switch Successor Grow
- Some investors anticipated outlook hike boosted by new games
- Focus now shifts to Switch hardware demand next fiscal year
A Nintendo Co. Switch game console.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Nintendo Co. cut its full-year earnings and revenue outlook, underscoring uncertainty around its aging Switch console and the global gaming environment.
The Kyoto-based company missed console sales targets toward the year’s end, a sign the Switch is flagging after a six-year run despite a consistent pipeline of software hits. It now expects operating income of 480 billion yen ($3.6 billion) for the year ending March, down from 500 billion yen previously. It’s projecting net sales of 1.6 trillion yen, down from 1.65 trillion yen.