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Stock impact report

Switch 2 sales boost Nintendo results but chip shortage looms [Yahoo! Finance]

NINTENDO CO LTD UNSP/ADR (NTDOY) 
NASDAQ:AMEX Investor Relations: nintendo.co.jp/ir/en
Company Research Source: Yahoo! Finance
But a global memory chip shortage, created by frenzied demand for artificial intelligence hardware, could push up manufacturing costs. The Switch 2 became the world's fastest-selling games console after launching to a fan frenzy last summer. It is the successor to the original Switch, which soared in popularity during the pandemic when games such as "Animal Crossing" struck a chord during long lockdowns. Both are hybrid devices that can be connected to a TV or used on-the-go. In April-December, net profit jumped 51.3 percent year-on-year to 358.9 billion yen ($2.3 billion), and revenue nearly doubled on-year to 1.9 trillion yen, Nintendo said. But the firm kept its annual unit sales target for the Switch 2 steady at 19 million, and also held its full-year net profit forecast of 350 billion yen. "Nintendo Switch 2 got off to a good start following its launch on June 5 and unit sales continued to grow through the holiday season," the company said. Nearly 17.4 million Swit Show less Read more
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