Nintendo Plunges After Outlook Cut as Switch Demand Cools
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Nintendo Co.’s stock price plunged after it cut its full-year earnings and revenue outlook in a sign of flagging demand for the aging Switch console.
Shares in the Kyoto-based company dropped 7.5% in their biggest drop in 16 months in Tokyo Wednesday. The company missed console sales targets in its December quarter earnings results, underscoring uncertainty around the Switch after a six-year run despite a consistent pipeline of software hits.