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Media & Entertainment

Nintendo posts 13% Q1 profit fall amid Animal Crossing hangover

Gaming giant prepares to roll out OLED Switch to extend aging console's life

Nintendo’s Switch became an explosive hit last fiscal year as the coronavirus outbreak kept people at home and drove demand for living room entertainment. (Photo courtesy of Nintendo)

TOKYO -- Nintendo suffered a 13% drop in its first quarter net profit as software sales undershot those of a year earlier and pandemic-driven demand dwindled for its Switch gaming console.

The Japanese gaming giant on Thursday reported a net profit of 92 billion yen ($845 million) for the April-June period. Operating profit also decreased, by 17% to 119 billion yen from a year earlier on the back of a 10% fall in revenue, to 322 billion yen.

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