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Nintendo profits more than triples in rising sales

Nintendo Co. reports that first-half net profit more than tripled from a year ago as the Covid-19 epidemic continues to sell strong.

Japanese video game maker net profit rose 213.12 billion yen ($ 2.04 billion) for the six months ended September 30, from Y62.02 billion a year earlier.

The Wall Street Journal estimates net profit at Y106.48 billion in the first quarter and net profit at Y106.64 billion in the second quarter. It won the Y77.03 billion estimate by analysts’ visible alpha poll.

Nintendo has raised its revenue and net profit projections for the full year ending March 2021. The company expects revenue to increase by 7.0% to Y1.400 trillion compared to the previous 8.3% decline, and net profit is projected to rise 16% to Y300.00 billion, down 23% compared to the previous year.

Nintendo expects to sell 24.0 million switch consoles this fiscal year, up from 19.0 million units previously planned. The company reported sales of 12.5 million units in the first half, up from 6.9 million units a year ago.

The company’s first-half revenue rose 73% to Y769.52 billion, helped by strong sales of “Animal Crossing: New Horizons”.

Revenue for the second quarter was Y411.42 billion, compared to Y358.11 billion in the previous quarter.

Nintendo claims to have sold 14.3 million copies of “Animal Crossing: New Horizons” in the first half.

Write to Kosaku Narioka at [email protected]