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Media & Entertainment

Nintendo expects 29% less profit after Animal Crossing boom

Japanese gaming giant predicts slower Switch sales following record breaking year

Nintendo expects sales from its popular Switch gaming console to slow. (Photo by Ken Kobayashi)

TOKYO -- Nintendo is forecasting a 29% drop in net profit for the year ending March 2022 as the pandemic-fueled gaming boom eases, with its popular Switch gaming console expected to face a slowdown in sales.

The Kyoto-based gaming company announced on Thursday that it anticipates annual net profit to decline to 340 billion yen ($3.1 billion) compared with a year earlier, which saw unprecedented demand for gaming early on in the COVID-19 pandemic and helped Nintendo log a record net profit of 480 billion yen.

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