OSAKA – Nintendo Co. said Wednesday it posted a group net profit of ¥21.26 billion ($190 million) for the three-month period that ended in June, a turnaround from a ¥24.53 billion loss a year earlier, on the back of solid sales of its Switch game console and games.
The Kyoto-based game giant booked a consolidated operating profit of ¥16.21 billion, up from last year’s ¥5.13 billion loss, on revenue of ¥154.07 billion, up nearly 2.5-fold.
The results for the first quarter of the 2017 business year indicate Nintendo is poised for a comeback after several years of weak earnings due to the poor performance of the Switch’s predecessor, the Wii U.
Nintendo maintained its earlier net profit forecast of ¥45 billion for the 2017 business year, down 56.1 percent from the previous year when it sold off Major League Baseball team the Seattle Mariners.
It also maintained its revenue outlook, projecting a 53.3 percent jump to ¥750 billion.
The company said it shipped 1.97 million Switch consoles in the April-June quarter and kept unchanged its full-year estimate of 10 million consoles.
The console, which has a display screen and detachable controllers and can act as both a home system and a handheld machine, has proved popular since its March release. The firm has struggled to meet demand in markets including the United States, Europe and Japan.
A large following for Nintendo’s popular titles, such as “The Legend of Zelda: Breath of the Wild,” has fueled sales of the console.
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