August 6, 2020

Nintendo reports bumper $1 bn net profit in first quarter

Tokyo (AFP) – Nintendo on Thursday reported net profit surged to $1 billion in the first quarter, with players stuck at home during the coronavirus virus driving extraordinary demand for the gaming industry.The Japanese giant 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 demand for its popular Switch console remained robust, as the device entered the crucial fourth year since its launch.The results far exceeded the expectations of analysts and come on the back of the run…


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