Nintendo Profit Smashes Analyst Estimates With Animal Crossing
- Company has asked suppliers to increase Switch production
- Covid-19 has been a strong tailwind for the games industry
A packaging case for Nintendo Co.'s video game Animal Crossing: New Horizons for the Switch console sits on display inside the Nintendo TOKYO store.
Photographer: Kiyoshi Ota/BloombergNintendo Co.’s profit blew past all estimates after Animal Crossing sales almost doubled and supply shocks eased, suggesting the Switch console will hold up well against new competition in the coming holidays. Shares rose.
The Japanese company has already asked assemblers to increase production of its marquee gaming console yet again in order to keep up with demand, Bloomberg News reported earlier. It registered a five-fold leap in operating profit to 145 billion yen ($1.4 billion) over the last quarter, its best performance for the April-June period ever. Sales of the Switch and newer Switch Lite console rose past 5 million units.