Nintendo seen extending profit streak as housebound consumers switch on [Reuters]
NINTENDO CO LTD UNSP/ADR (NTDOY)
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Source: Reuters
Nintendo seen extending profit streak as housebound consumers switch on TOKYO (Reuters) - Japan’s Nintendo Co Ltd is expected to extend its decade-high earnings streak when it reports fourth-quarter results next week, powered by the hit Switch console which is expanding its reach among locked-down consumers. Nintendo is seen posting an 80% jump in operating profit on May 7 to 54 billion yen ($505 million) for the January-to-March quarter, according to an average of 10 analyst estimates in a Refinitiv poll - a fourth-quarter profit level last seen in the heyday of the Wii console. The earnings will provide official figures for the first 12 days of sales of island life simulator Animal Crossing: New Horizons, which has proved a global hit as it draws in casual gamers stuck at home due to the coronavirus outbreak. The virus is proving a boon for home entertainment but is stretching Nintendo’s lean supply chain, exacerbating shortages of the hybrid home-portable Switch device, the handhel
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