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Investing.com -- Nintendo Co Ltd (TYO:7974) shares jumped nearly 5% on Friday after the gaming giant posted stronger-than-expected first-quarter earnings and raised its full-year outlook, underscoring robust demand for its new Switch 2 console.
Nintendo shares closed 4.8% higher at ¥8,011, outperforming the Nikkei 225's 0.8% decline, as investors reacted to quarterly results released after Thursday's market close.
Net profit attributable rose to ¥145.4 billion in the quarter ended June 30 from ¥80.9 billion a year earlier, beating the S&P Global Visible Alpha consensus estimate of ¥119.8 billion.
Revenue more than doubled to ¥572.3 billion from ¥246.6 billion a year earlier, also topping analysts' expectations of ¥506.9 billion, driven by the successful launch of the Switch 2 console and strong first-party software sales.
Nintendo also raised its full-year guidance, forecasting net profit of ¥380 billion, up from ¥340 billion previously, while lifting its revenue outlook to ¥2.15 trillion from ¥1.90 trillion. The company also increased its operating profit forecast to ¥500 billion from ¥450 billion.
The company said Switch 2 shipments reached 8.67 million units during the quarter, significantly ahead of market expectations, while software sales remained robust, led by strong demand for first-party titles launched alongside the new console.
