Salem Radio Network News Sunday, September 26, 2021


Nintendo Q1 profit falls as Switch sales fade

TOKYO (Reuters) – Japan’s Nintendo Co Ltd on Thursday said it sold 4.45 million units of its Switch console in the April-June quarter, down from 5.7 million a year earlier, in a sign that demand for the hit device may be fading in its fifth year on the market.

The company posted a 17% fall in operating profit to 119.8 billion yen ($1.09 billion), missing the 129.3 billion forecast by nine analysts, Refinitiv Eikon data showed.

The game console maker stuck with its full-year profit forecast of 500 billion yen, lower than an average prediction for 623.5 billion yen from 19 analysts according to Refinitiv.

($1 = 109.6200 yen)

(Reporting by Tim Kelly and Sam Nussey; editing by Jason Neely)


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