Associated Press
[Source: AP]
Nintendo’s first quarter profit surged 53.5% as the popularity of its recent Super Mario movie worked with solid demand for the Switch 2 gaming console to support the Japanese video-game company’s bottom line.
Kyoto-based Nintendo Co. reported Thursday 147.4 billion yen ($933 million) in April-June profit, up from 96 billion yen in the same period a year ago.
Quarterly sales dipped 9.5% to 517.8 billion yen ($3.3 billion).
Working as a negative for Nintendo, as with many Japanese companies, were U.S. President Donald Trump’s tariffs, as well as the rising price of memory chips and other components.
Nintendo is forecasting 310 billion yen ($2 billion) in profit for the full fiscal year through March 2027, down nearly 27% from the previous fiscal year, on annual sales slipping 11% to 2.05 trillion yen ($13 billion).
Nintendo said sales of Switch 2 machines totaled 3.82 million globally. Nintendo’s older Switch business is still holding up, with both console and software sales continuing, even as the new machine is also in demand.
