Nintendo Reports Strong Switch Sales, New Revenue Sources
https://wccftech.com/nintendo-reports-strong-switch-sales-new-revenue-sources/
Nintendo (TYO:7974) reported only mild gains operating profit and sales Thursday, as sales of its flagship Nintendo Switch continue to be strong, but the console begins to enter the last stages of its life and new revenue sources emerge.
The Japanese gaming giant said that for the last quarter profit was 168.7 billion Yen ($1.54 billion) versus 158.6 billion Yen a year earlier. Analysts were expecting 175 billion yen, according to polls provided by Refinitiv. Between March and December 31 2019, Nintendo says that its net sales were up by 2.5% on year, compared to an increase of 16.4% from a year earlier; Operating profit was up by 19.5% for the period, compared to 40.6% from the same time last year; Ordinary profit up 14% compared to 23.5% from the nine month period ending December 31 2018.