Nintendo posts five-fold profit jump
Gaming giant Nintendo posted a five-fold jump in profit on Thursday (August 6).
Demand for its Switch device and a hit game during the global health crisis saw Q1 profit jump 428% on the year.
The title 'Animal Crossing: New Horizons' sold more than 22 million units since being launched in March.
Nintendo also sold just over 5.5 million Switch units in the first quarter.
In total, operating profit for April to June was $1.37 billion - more than double analyst predictions.
The Japanese firm kept its sales forecast of 19 million Switch units in the current financial year.
Digital game sales were another success for Nintendo as they more than tripled.
56% of sales came through download in the first quarter, compared to 38% a year before.
Gaming has been one of the few business winners of the lockdown era.
Nintendo rival Sony also posted a sharp rise in sales for its PlayStation 4 console earlier this week.
