Nintendo Raises Earnings Projection for Fiscal Year to 1.02 Trillion Yen
posted on by Rafael Antonio Pineda
Nintendo revealed in its third quarter financial results briefing on Thursday that it has revised its earnings projections for the fiscal year ending in March 2018 to 1.02 trillion yen (about US$9.33 billion), an increase from its second quarter projection of 960 billion yen (about US$8.78 billion), which it revealed last October.
The company attributes high holiday sales of the Nintendo Switch for the increased projection. The console has sold 14.86 million units worldwide as of December 31, surpassing the lifetime worldwide unit sales of its previous Wii U console.
If the company achieves its earnings projection at the end of the fiscal year, it will be the first time the company has earned a 1 trillion yen since 2011.
Nintendo's share price also increased from 360 yen (about US$3.20) to 500 yen (about US$4.50).