 reported a better-than-expected set of results, boosted in part by its Pokemon and DS console Games.){kind=link}
Nintendo (OTCMKTS:NTDOY) reported a better-than-expected set of results, boosted in part by its Pokemon games.
The Japanese gaming titan saw sales of 64.7 billion yen (£456 million) in the three months to end-of-December, marking a significant increase from the 20 billion yen forecast by market analysts. In addition, profit for the full-year is set to hit 90 billion yen, above the previously expected figure of 50 billion yen.
The promising figures have been attributed to the rapid popularity of the Pokemon-Go mobile phone game as of last year, which led to a boost in its Pokemon 3DS hand-held device games. However, despite Pokemon-Go’s popularity, Nintendo only earns a fraction of sales from the game. In addition to a boost in Pokemon sales, the company’s December sales were bolstered by a weaker yen and Christmas season retail activity.
“Pokemon did exceptionally well,” Nintendo President Tatsumi Kimishima said in comments to reporters after posting. “But we’re also trying to sell more of other titles and weren’t able to do that.”
Nevertheless, sales of its 3DS devices were starting to dampen, with revenue for the final quarter decreasing by 21 percent to 174.3 billion yen. Operating profit missed market projections, totalling 32.3 billion compared with a forecast for 33.4 billion yen.
Nintendo is also set to release its latest gaming device, named “Switch”, in early March as it looks to counteract a weakening in 3DS sales. Nintendo said it anticipates to sell 2 million units within a month of its release. Analysts have forecast about 10-11 million units in the upcoming year of the new gaming device.
The Nintendo Switch is set to retail in the United Kingdom for £279.99 and is available for pre-order at various retailers.
Shares in Nintendo were up by 0.08 percent on Tuesday morning as of 10.39AM (GMT).