Nintendo's third quarter operating profit soars on Switch, raises outlook

Reuters News
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Posted: Jan 31, 2018 2:23 AM

OSAKA (Reuters) - Japanese videogames maker Nintendo Co Ltd on Wednesday raised its full-year outlook and reported a jump in its third-quarter operating profit on strong demand for its new Switch games console.

Nintendo posted an operating profit of 116.50 billion yen ($1.07 billion) for the October-December quarter, up 261 percent from 32.26 billion yen a year ago.

That compared with a consensus estimate of around 67 billion yen from six analysts polled by Thomson Reuters I/B/E/S.

The Kyoto-based company raised its profit forecast for the year ending March to 160 billion yen, from 120 billion yen. That compared with a consensus estimate of around 144 billion yen from 20 analysts polled by Thomson Reuters I/B/E/S.

(Reporting by Makiko Yamazaki; Editing by Himani Sarkar)