Japan game maker Nintendo reports lower profit as demand for Switch consoles wanes [Yahoo! Finance Canada]
NINTENDO CO LTD UNSP/ADR (NTDOY)
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Source: Yahoo! Finance Canada
Kyoto-based Nintendo Co ., which created the Super Mario franchise, reported Tuesday an April-December profit of 237 billion yen ($1.5 billion), down 42% from the same period the previous year. Nine-month sales dropped 31% to 956 billion yen ($6 billion), according to Nintendo, which did not break down quarterly results. The company now expects to rake in a 270-billion yen ($1.7 billion) profit for the fiscal year through March, down from the previous forecast for 300-billion yen ($1.9 billion). Sales of Nintendo machines for the nine-month period fell to 9.54 million units from 13.7 million last year. Nintendo now expects to sell 11 million Switch consoles for the full fiscal year, lower than its initial projection of 12.5 million. Game software sales in Apri
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