Nintendo shares tumble after 'ultra-conservative guidance' [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Nintendo shares tumble after 'ultra-conservative guidance' Shares of Japanese game maker Nintendo tumbled about 3% on Friday morning after the company announced its earnings on Thursday. In Friday morning trade, Nintendo saw its stock drop by 2.99%. For its part, competitor Sony — which manufactures the Playstation 4 video game console — also fell 2.23% ahead of its own earnings release later on Friday. "I think that the disappointment stems from, you know, Nintendo's ultra-conservative guidance ... for the current fiscal (year) that we're currently in," Serkan Toto, CEO of Tokyo-based game industry consultancy Kantan Games, told CNBC's "Squawk Box" on Friday. Nintendo said it would sell 18 million Switch video game console units globally in the financial year through March. The Kyoto-based gaming company said it sold 16.95 million units in the year just ended, just below its forecast of 17 million units. That forecast was revised downward from 20 million units in January. Nintendo's
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