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Nintendo first-quarter profit falls 10.2%, below estimates, despite growing Switch sales

Nintendo first-quarter profit falls 10.2%, below estimates, despite growing Switch sales
FILE PHOTO: A display for the gaming company Nintendo is shown during opening day of E3, the annual video games expo revealing the latest in gaming software and hardware in Los Angeles, California, U.S., June 11, 2019. REUTERS/Mike Blake/File Photo -
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Mike Blake(Reuters)
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TOKYO (Reuters) – Japan’s Nintendo Co Ltd said on Tuesday operating profit fell 10% in the three months to June, below market expectations, despite stronger sales of its Switch console.

Operating profit in the first quarter was 27.4 billion yen ($252.26 million). That compared with the 40 billion yen average of 10 analyst estimates compiled by Refinitiv.

Nintendo said it sold 2.1 million Switch consoles in the period, bringing the total install base to 36.9 million units.

The Kyoto-based gaming company maintained its full-year forecast of 18 million units for the year ending March.

(Reporting by Sam Nussey; Editing by Christopher Cushing)

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