It's been two years since I added shares of Nintendo (NTDOY -0.72%) to my portfolio. The Japanese gaming giant was trading near a three-year low at the time, but I felt that Nintendo was ready to start winning again.
David Gibson, Senior Research Analyst at MST Financial discusses the expected price point of Nintendo's Switch 2, and possible new features that will be revealed on April 2.
Nintendo reported weaker-than-expected earnings for its fiscal third quarter, as declining demand for its ageing Switch console weighed on revenue and profitability. The gaming giant posted a net profit of 128.53 billion yen ($862 million), a 6% decline year-on-year, falling short of market expectations.
Japanese video game giant Nintendo on Tuesday cut its annual net profit forecast after hardware and software sales for its Switch console fell in the first three quarters.
Nintendo announced its financial results for its third fiscal quarter ended December 31, with hardware sales of the Switch hitting 4.82 million units.
Nintendo on Tuesday reported weaker-than-expected top and bottom results for its fiscal third quarter, slashing its forecast for the Switch console ahead of the release of its succesor. Nintendo last month teased the Switch 2 in a trailer showing off the hardware.
Japan's Nintendo cut its operating profit forecast on Tuesday by 22.2% to 280 billion yen ($1.8 billion) for the financial year ending March.
Nintendo has revealed the Nintendo Switch 2, featuring a larger screen, improved Joy-Con controllers, and backward compatibility with the original Switch's game library. Nvidia will supply a new chip, leveraging DLSS AI software to boost resolution and frame rate, enhancing performance and reducing game production costs. The new Mario Kart game, expected to launch with the Switch 2, showcases enhanced graphics, larger tracks, and support for up to 24 players.
Market players gravitated to Nintendo (NTDOY 3.26%) stock at the close of the trading week following the initiation of coverage by a major bank. This helped push the storied video game company's stock more than 3% higher on Friday, easily beating the S&P 500 index's nearly 0.3% decline.
Nintendo (NTDOY 1.73%) stock is gaining in Thursday's trading as investors and analysts are warming back up to the prospects for the company's recently unveiled Switch 2 console. The Japanese video gaming giant's share price was up 1.6% as of 12:10 p.m.
Nintendo (NTDOY 2.59%) stock rose 2.5% through 11:45 a.m. ET Wednesday after the Japanese video game giant confirmed that it will be releasing a successor to the popular Nintendo Switch gaming console later this year.