Nintendo missed quarterly revenue and profit estimates and revised its full-year outlook, slashing Switch console sales projections. It also cut its net profit guidance, a 10% drop from its earlier forecast. The focus remains on the forthcoming Switch 2, the anticipated successor to the popular original console released in 2017. The company previewed the upcoming Switch 2 and plans to provide additional details at its April Nintendo Direct event. Nintendo has tried to keep the Switch relevant with new versions and character-based films, but interest in the aging console is fading.
Category
🗞
NewsTranscript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Nintendo missed quarterly revenue and profit estimates and revised its full-year outlook,
00:06slashing Switch console sales projections. It also cut its net profit guidance a 10%
00:11drop from its earlier forecast. Focus remains on forthcoming Switch 2,
00:15the anticipated successor to a highly popular original console released in 2017.
00:20The company previewed the upcoming Switch 2 and plans to provide additional details
00:24at its April Nintendo Direct event. Nintendo has tried to keep the Switch relevant with
00:30new versions and character-based films, but interest in the aging console is fading.