August 6, 2020

Nintendo reports bumper $1 bn net profit in first quarter

Tokyo (AFP) – Nintendo made $1 billion net profit in the first quarter, it said Thursday, with players stuck at home during the coronavirus pandemic driving extraordinary demand for the gaming industry.The global health crisis has had devastating economic consequences across a broad range of industries, but the gaming sector has been a rare beneficiary of lockdowns that kept people indoors around the world.Nintendo said it raked in 106.5 billion yen for the three months to June, a more than six-fold increase from 16.6 billion yen a year earlier.Sales more than doubled to 358 billion yen, as de…


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