Nintendo Shares Fall on Weak Outlook While Next Switch Awaited
- Momentum petering on seven-year-old flagship console
- Outlook falls shy of expectations even with weak yen boost
Nintendo products at a Best Buy store in Montreal, Quebec, Canada.
Photographer: Graham Hughes/BloombergThis article is for subscribers only.
Shares of Nintendo Co. tumbled their most in over a month after the company warned of a sharp profit fall and signaled a next-generation Switch wouldn’t arrive till 2025.
The stock fell as much as 4.9% in Tokyo after President Shuntaro Furukawa posted on X to say that while Nintendo plans to announce a successor to the seven-year-old Switch in the coming year, that won’t happen during an annual Nintendo Direct event in June. The post came shortly after Nintendo said it expects operating income to fall a bigger-than-expected 24% to ¥400 billion ($2.6 billion) on a 19% revenue decline in the year to March 2025.