Switch Boosts Nintendo Profit
Nintendo’s Switch console, pictured, has been a hit with fans and the company’s balance sheet.
Q1 profit for the games company beat analyst expectations, boosted by a strong performance from Switch and new Mario and Zelda games.
The Japanese electronics giant reported revenue of 154 billion yen (A$1.7 billion) and an operating profit of 16.21 billion yen compared with a 5 billion yen loss in the same period last year.
Revenue jumped 150 percent on last year’s, largely due to Nintendo selling 1.97 million units of its hybrid Switch consoles. Overall Nintendo has sold 4.71 million Switch consoles and is maintaining its target of selling 10 million in this financial year.
Mobile and intellectual property (IP) licensing revenue hit 9.06 billion yen, up nearly 450 percent from just 1.6 billion yen last year.