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Home / Technology / UPDATE 1-Nintendo Q2 gain reaches 8-year high, driven by switch sales

UPDATE 1-Nintendo Q2 gain reaches 8-year high, driven by switch sales



* Operating profit Y30.9 bln against Y23.8 bln year earlier

* Sold 5.07 mln switch consoles in April-September

* Sold 44 million Switch games over the same period

* Serviced full year sales target of 20 Million Switch Consoles (more financial details, Executive Comment)

By Sam Nussey

OSAKA, October 30 (Reuters) – Japan's Nintendo Co Ltd said Tuesday that sales of switch consoles and games are operational Profit increased 30 percent in July-September to reach the highest quarterly result in eight years.

Second-quarter earnings reached $ 30.9 billion ($ 274.11 million), said the Kyoto-based gaming company, but underestimated the analyst.

Nintendo also announced that it sold 5.07 million of its switch consoles in April-September, holding its sales forecast at 20 million consoles for the year ending March.

President Shuntaro Furukawa, who took over the role in June, said the sales target was a challenge, but expressed confidence that it would be achieved.

Nintendo's revenue was boosted by the 42 million switch games sold in April-September compared to 22 million in the same period last year. The next games caused a sensation amongst the fans, including Let & # 39; s Go and December Smash Bros. Ultimate.

The company is also working to make mobile games an additional source of revenue, releasing its last title Dragalia Lost last month. Co-developer CyberAgent Inc's president welcomed the game as his # 1

hit in just a few weeks. One of CyberAgent's previous hits is Granblue Fantasy.

The partnership is the latest in the secret game maker, whose mobile titles such as Mario Run and Animal Crossing: Pocket Camp have not been as successful as the augmented reality monster-catching game Pokemon Go by partner Niantic Inc.

Nintendo was as well slow in offering online services to the switch – potentially providing a predictable revenue stream from a subscriber base – with the launch of Nintendo Switch Online last month.

Furukawa, who is young at the age of 46 years according to Japanese company standards, said the service had started well, but had not given any financial details.

Nintendo's shares reached a 10-year high in January, but have since fallen by around 30 percent due to broader technology weaknesses. They closed on Tuesday before the profit publication 1.7 percent, which largely corresponds to the reference index. ($ 1 = 112.7300 yen) (Report by Sam Nussey, editors: Christopher Cushing)

Our Standards: The Thomson Reuters Trust Principles.

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