Nintendo Reports 428 Percent Profit Surge
As the pandemic rages on and people are stuck inside, many businesses are struggling. But others are benefiting from the public’s boredom and confinement. On such company is Nintendo whose sales exploded last quarter, reporting a quarterly operating profit of 1.4 billion dollars. This includes a 167 percent increase in sales of their Nintendo Switch and Switch Lite consoles, selling 5.68 million units. Additionally, they sold 22.4 million copies of their hit game “Animal Crossing: New Horizons.” This all amounts to a net sales increase of 108 percent year-over-year. Digital sales have soared an incredible 230 percent. The stock has also reflected their success on the Tokyo exchange from a Friday close of $56.37 to today’s opening at $61.98.
Blake is a writer focused on non-profits and trade industries. He has told the stories of countless peacebuilders while covering international development with the nonprofit Search for Common Ground. He is a graduate of the George Washington University’s School of Media and Public Affairs.