Nintendo raised its annual profit forecast though the outlook fell short of projections, reflecting uncertainty around game-spending and a volatile yen.
The Kyoto-based entertainment company said it now expects operating income of ¥500 billion ($3.3 billion), up from ¥450 billion previously. It based its new guidance on a weaker yen value than previously, though it fell short of average analyst expectations of ¥529 billion. The company also said it expects to sell 5 million more copies of games, raising its forecast to 185 million.
Nintendo reported operating profit of ¥94.5 billion and revenue of ¥334.9 billion in the September quarter, both beating analyst expectations. The yen’s weakness helped the earnings, the bulk of which comes from overseas.