• Latest
  • Trending
Nintendo Increases Forecast By 50% in Sign of Strong Gaming Demand

Nintendo Increases Forecast By 50% in Sign of Strong Gaming Demand

November 5, 2020
China Sends 25 Warplanes into Taiwan’s Air Defense Zone, Taipei Says

China Sends 25 Warplanes into Taiwan’s Air Defense Zone, Taipei Says

April 13, 2021
Coronavirus Pandemic ‘a Long Way from Over’ WHO Says

Coronavirus Pandemic ‘a Long Way from Over’ WHO Says

April 13, 2021
Japan to Release Contaminated Fukushima Water into Sea after Treatment

Japan to Release Contaminated Fukushima Water into Sea after Treatment

April 13, 2021
Nigeria Editors Seek Government’s Intervention to Halt Media’s Collapse

Nigeria Editors Seek Government’s Intervention to Halt Media’s Collapse

April 13, 2021
Qatar to Invest $5bn in Nigeria, Says Foreign Minister Onyeama

Qatar to Invest $5bn in Nigeria, Says Foreign Minister Onyeama

April 13, 2021
Reports That Dangote Selling Cement at a Higher Price in Nigeria ‘False and Incorrect’, Director Says

Cement Cheaper in Nigeria than Ghana and Zambia, Dangote Group Insists

April 13, 2021
Japan Olympic Adviser Urges Covid Vaccine Option for Athletes

Japan Olympic Adviser Urges Covid Vaccine Option for Athletes

April 13, 2021
Okonjo-Iweala’s Confirmation as WTO DG Hits New Snag with Geneva Lockdown

Vaccine Nationalism, Export Restrictions Hampering Africa’s Vaccination Efforts, WTO Boss Says

April 13, 2021
‘I Miss My Brother’, George Floyd’s Younger Sibling Tells Court

‘I Miss My Brother’, George Floyd’s Younger Sibling Tells Court

April 13, 2021
Muslims Open Ramadan with Social Distanced Prayers, Vaccines

Muslims Open Ramadan with Social Distanced Prayers, Vaccines

April 13, 2021
Nigeria’s Southeast Governors Plan Legal Backing for ‘Regional Police’

Nigeria’s Southeast Governors Plan Legal Backing for ‘Regional Police’

April 13, 2021
Restructuring Alone Can’t Solve Nigeria’s Problems, Former President Jonathan Says

Voters, Not Court, Should Choose Leaders, Nigeria’s Ex-President Jonathan Says

April 13, 2021
Volcano Erupts in Southern Caribbean, Sparking Evacuation Frenzy

St Vincent Volcano Erupts Again, Spewing More Gas and Ash

April 13, 2021
Protests in Minneapolis after Police Chief Says Officer Who Shot Black Man Meant to Use Taser

Protests in Minneapolis after Police Chief Says Officer Who Shot Black Man Meant to Use Taser

April 13, 2021
The Sugar Strategies Of Dangote Sugar, BUA Group, And Flour Mills

The Sugar Strategies Of Dangote Sugar, BUA Group, And Flour Mills

April 13, 2021
Pension Assets Decline, Kano Pillars Sign MOU With A Private Firm

Pension Assets Decline, Kano Pillars Sign MOU With A Private Firm

April 13, 2021
ARISE XCHANGE

ARISE XCHANGE

April 12, 2021
Nigeria Announces Stricter Guidelines on Flights from UK, South Africa, Stops Short of Travel Ban

Nigeria Says ‘Criminal Elements’ Planning to Attack Airports

April 12, 2021
34 Migrants Dead After Boat Capsizes off Djibouti

34 Migrants Dead After Boat Capsizes off Djibouti

April 12, 2021
‘Twitter on the Continent’: Tech Giant Sets Up African HQ in Ghana

‘Twitter on the Continent’: Tech Giant Sets Up African HQ in Ghana

April 12, 2021
Nigerian Government Extends Deadline To Block SIMs Without Identification Number

‘I’ve Preached Against Evil For 15 years’: Nigeria’s Comms Minister Debunks Links to Boko Haram

April 12, 2021
Nigeria: Hours After Launch of Southeast  ‘Regional Police’, Gunmen Attack Ebonyi Community, Burn Houses

Nigeria: Hours After Launch of Southeast  ‘Regional Police’, Gunmen Attack Ebonyi Community, Burn Houses

April 12, 2021
Israel Ratifies Visa Exemption Agreement with UAE, the First with an Arab State

Israel Won’t Allow Iran Get Nuclear Weapons, Netanyahu Says as Iran Vows Revenge for Plant Outage

April 12, 2021
ARISE NEWSDAY

ARISE NEWSDAY

April 12, 2021
Myanmar Military to Bring Fresh Charges Against Overthrown Leader Aung San Suu Kyi

Again, Myanmar’s Aung San Suu Kyi Hit with New Criminal Charge

April 12, 2021
Dangote Group Director Addresses Cement Pricing and ‘Sugar War’ (FULL INTERVIEW)

Dangote Group Director Addresses Cement Pricing and ‘Sugar War’ (FULL INTERVIEW)

April 12, 2021
Obaseki In Controversy Over The Printing Of N60bn Comment – Trending with Ojy Okpe

Obaseki In Controversy Over The Printing Of N60bn Comment – Trending with Ojy Okpe

April 12, 2021

Global Business Report

April 12, 2021
Brazil’s Coronavirus Cases Pass Five Million, Deaths Nearing 150,000

Covid: India Overtakes Brazil as Second Worst Hit Country But Huge Crowds Gather for Festival

April 12, 2021
Reports That Dangote Selling Cement at a Higher Price in Nigeria ‘False and Incorrect’, Director Says

Reports That Dangote Selling Cement at a Higher Price in Nigeria ‘False and Incorrect’, Director Says

April 12, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Tuesday, April 13, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Latest

Nintendo Increases Forecast By 50% in Sign of Strong Gaming Demand

November 5, 2020
Reading Time: 3min
0 0
0
Nintendo Increases Forecast By 50% in Sign of Strong Gaming Demand
Share on FacebookShare on Twitter

In an unusual move midway through its fiscal year, Nintendo Co. increased its financial forecasts as consumers stuck at home during the pandemic lifted demand for games and the Switch console.

The Japanese company is now projecting 450 billion yen ($4.3 billion) of operating profit for the year, up 50% from the previous 300 billion yen. It boosted its revenue forecast to 1.4 trillion yen, from 1.2 trillion yen, and its Switch forecast to 24 million units, up from 19 million.

Nintendo also reported an operating profit of 146.7 billion yen for the September quarter, compared with the 96.2 billion yen average estimate. Revenue came to 411 billion yen, versus the 321.4 billion yen anticipated.

The rare mid-year outlook hike underscores how the gaming industry is riding a Covid-era surge. The Japanese developer of hit franchises from Mario to Zelda has outperformed thanks in part to Animal Crossing, which emerged as the online forum of choice for millions during the pandemic. It’s one of few gaming companies to report an increase in revenue from the June quarter to the September quarter.

“The Switch hardware momentum remains strong, and we think that’s because production has recovered so customers who were previously unable to find a Switch on store shelves are now able to,” President Shuntaro Furukawa said in a conference call after results.

The Kyoto-based company had been grappling with a production and logistics bottleneck as Animal Crossing’s popularity triggered a global Switch shortage. But Switch production in China and Vietnam has now stabilized, while the company has also begun making the consoles in Malaysia in small volumes, he said.

“The Switch production situation has now completely recovered and we have no issues with that,” Furukawa said.

Nintendo’s results may assuage worries that the Covid-era gaming boom may be waning, after September-quarter results from Koei Tecmo Holdings Co. and Capcom Co. showed revenue growth slowed from the prior three months. Sony Corp., which is preparing to launch a new PlayStation for the holidays, last week raised its fiscal-year operating profit outlook by 13%.

 

Tags: Nintendo Increases Forecast By 50% in Sign of Strong Gaming Demand
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist