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JAPAN-TECHOLOGY-GAMING-NINTENDO-EARNINGS
Nintendo 9-month net profit nearly doubles, forecasts revised up
TOKYO, Feb 1, 2021 (BSS/AFP) – Nintendo said Monday net profit nearly
doubled in the nine months to December and hiked its full-year forecast again
as coronavirus lockdowns drive demand in the gaming sector.
The Japanese giant said net profit hit 376.7 billion yen ($3.6 billion), up
91.8 percent from the April-December period a year earlier, while sales
climbed 37.3 percent to 1.4 trillion yen.
Nintendo, which revised its annual forecasts up last quarter, said it was
further upgrading its net profit outlook to 400 billion yen for the fiscal
year to March, from an earlier estimate of 300 billion yen.
Full-year sales now are projected at 1.6 trillion yen, compared with 1.4
trillion yen forecast in November.
The gaming sector has been one of the few to thrive during the pandemic,
with people forced to stay at home often turning to games for some escapism
and to pass time.
While vaccines are now being rolled out in many parts of the world, a new
wave of infections is forcing several governments to reinstate lockdowns,
sustaining demand for home entertainment.
BSS/AFP/MSY/1422 hrs