Tokyo: Nintendo Co. posted quarterly profit that topped estimates, as higher software sales online made up for weaker shipments of the Switch console.
Operating profit was 30.5 billion yen (Dh1 billion or $274 million) in the June quarter, compared with analysts’ average projection for 25.6 billion yen. Revenue was 168 billion yen, short of the average projection for 186.9 billion. The company maintained its full-year forecasts for profit, hardware and software sales.
The strong results are the latest twist for Nintendo, which has gone from one of Japan’s hottest stocks to a target for short-sellers wiping out all its gains in the past year. But with Switch software and hardware shipments holding up, it gives new President Shuntaro Furukawa the chance to focus on the launch of its highly-anticipated online game service in September.