Nintendo hikes profit forecast as pandemic lifts demand for gaming
Rare midyear outlook adjustment underscores how the gaming industry is riding the Covid-era surge
05 November 2020 - 17:48
Tokyo — In an unusual move midway through its fiscal year, Nintendo 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 ¥450bn ($4.3bn) of operating profit for the year, up nearly 50% from the previous ¥300bn. It boosted its revenue forecast to ¥1.4-trillion, from ¥1.2-trillion, and its Switch forecast to 24-million units, up from 19-million...
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