Published in Gaming

Former Wii maker flushed with success

by on26 July 2017

Bog standard profits at last

The former maker of the Wii, Nintendo, said it swung to a profit in the first quarter, beating analyst estimates thanks to strong demand for the Switch.

High hopes for the console has driven up Nintendo's stock price around 60 percent since its March debut. The firm has said it expects Switch to help more than double its annual operating profit and end an eight year sales decline that dogged its previous offering Wii U.

The company swung to an operating profit of $144.95 million for the three months through June, from a year ago loss.

Nintendo sold 1.97 million Switch consoles in the three months through June, bringing the cumulative total to 4.7 million units. Demand has been so strong that Nintendo has found it difficult to keep up as queues get longer outside stores. Devices have even been allocated by lottery in some cases.

The company has apologised for the shortage of Switch in Japan and pledged to raise production.

Nintendo is trying to make more use of its roster of popular characters, moving into new areas for the company including smartphone gaming and theme parks.

Last modified on 26 July 2017
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