profit

Nintendo posts five-fold profit jump as Animal Crossing sales top 22 million

TOKYO (Reuters) – Japan’s Nintendo Co Ltd on Thursday reported a more than five-fold jump in quarterly profit, driven by breakout demand for its Switch device and hit title “Animal Crossing: New Horizons” as the coronavirus lockdown lifts the games industry.

FILE PHOTO: Attendees line-up at the Nintendo booth at E3, the annual video games expo experience the latest in gaming software and hardware in Los Angeles, California, U.S., June 12, 2019. REUTERS/Mike Blake

Nintendo has proved a winner of the pandemic as stuck-at-home gamers flock to titles like “Animal Crossing”, which sold 10.6 million units in the first quarter, bringing its total sales to 22.4 million since launching in March.

“Animal Crossing” is a runaway hit, with more than half of new Switch devices first used to play the title during the quarter and total sales second only to “Mario Kart 8 Deluxe”.

GRAPHIC: Switch quarterly and total top

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Nintendo reports five-fold profit jump as Animal Crossing sales top 22 million

TOKYO (Reuters) – Japan’s Nintendo Co Ltd on Thursday reported a more than five-fold jump in quarterly profit, driven by breakout demand for its Switch device and hit title “Animal Crossing: New Horizons” as the coronavirus lockdown lifts the games industry.

FILE PHOTO: The logo of the Nintendo is displayed at Nintendo Tokyo, the first-ever Nintendo official store in Japan, at SHIBUYA PARCO department store and shopping mall complex, in Tokyo, Japan, Nov. 19, 2019. REUTERS/Issei Kato/File Photo

Nintendo has proved a winner of the pandemic as stuck-at-home gamers flock to titles like “Animal Crossing”, which sold 10.6 million units in the first quarter, bringing its total sales to 22.4 million since launching in March.

Operating profit for April-June was 144.7 billion yen ($1.37 billion). That compared with an average estimate of 71 billion yen from 12 analysts polled by Refinitiv SmartEstimate.

Nintendo sold 5.7 million Switch units in the

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Nintendo reports 428% jump in profit as Animal Crossing sales top 22 million

FILE PHOTO: The logo of the Nintendo is displayed at Nintendo Tokyo, the first-ever Nintendo official store in Japan, at SHIBUYA PARCO department store and shopping mall complex, in Tokyo, Japan, Nov. 19, 2019. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) – Japan’s Nintendo Co Ltd on Thursday reported a 428% jump in first-quarter profit, driven by ongoing demand for the Switch console and hit title Animal Crossing: New Horizons as the coronavirus outbreak boosts the games industry.

Operating profit for April-June was 144.7 billion yen ($1.37 billion). That compared with an average estimate of 71 billion yen from 12 analysts polled by Refinitiv SmartEstimate.

Nintendo has proved a winner of the pandemic as stuck-at-home gamers flock to titles like Animal Crossing, which sold 10.6 million units in the first quarter, bringing its total sales to 22.4 million.

The firm sold 5.7 million Switch consoles in the first quarter, breaking down as

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Nintendo reports 428% jump in profit as Animal Crossing wins over stay-home gamers

FILE PHOTO: The logo of the Nintendo is displayed at Nintendo Tokyo, the first-ever Nintendo official store in Japan, at SHIBUYA PARCO department store and shopping mall complex, in Tokyo, Japan, Nov. 19, 2019. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) – Japan’s Nintendo Co Ltd on Thursday reported a 428% jump in first-quarter profit, driven by ongoing demand for the Switch console and hit title Animal Crossing: New Horizons as the coronavirus outbreak boosts the games industry.

Operating profit for April-June was 144.7 billion yen ($1.37 billion). That compared with an average estimate of 71 billion yen from 12 analysts polled by Refinitiv SmartEstimate.

The firm sold 5.7 million Switch consoles in the first quarter.

Nintendo has proved a winner of the pandemic as stuck-at-home gamers flock to titles like Animal Crossing, with its stock price touching a 12 year high in July.

The Kyoto-based gaming firm maintained its sales forecast

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