Nintendo cuts its operating profit forecast as sales plunge

Japanese gaming giant posts nearly 60% drop in net profit in Q2

20241105 Nintendo

Reduced demand for the eight-year-old Switch console has taken a toll on Nintendo's earnings. (Photo by Toshiki Sasazu)

CHIHIRO ISHIKAWA, Nikkei staff writer

TOKYO -- Japanese gaming giant Nintendo cut its full-year operating profit forecast on Tuesday, following another quarter of sluggish sales.

The Kyoto-based company revised its revenue and operating profit forecasts to 1.28 trillion yen ($8.4 billion) and 360 billion yen, respectively, for the fiscal year ending in March 2025 -- down 5.2% and 10% from its previous predictions of 1.35 trillion yen and 400 billion yen. It did not change its net profit outlook of 300 billion yen.

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