Nintendo results underscore need for Switch console to succeed

Tokyo

NINTENDO Co reported quarterly profit above projections and increased its outlook for the year, but anaemic sales highlighted how important it is for the company's new Switch console to succeed.

A weaker yen and brisk holiday sales helped the Kyoto-based game maker deliver profit of 64.7 billion yen (S$811.4 million) for the period ending in December, exceeding analysts' average projection for 20.5 billion yen. For the fiscal year, profit will be 90 billion yen instead of the previously forecast 50 billion yen, Nintendo said on Tuesday. Still, revenue for the quarter fell 21 per cent to 174.3 billion yen, while the full-year outlook was kept at 470 billion yen.