April 26, 2018 / 7:15 AM / 3 months ago

Nintendo expects 27 pct annual profit jump on strong Switch sales

TOKYO, April 26 (Reuters) - Japan’s Nintendo Co Ltd said on Thursday it expects operating profit to rise 26.7 percent in the year through March to a nine-year high, as its Switch games console maintains sales momentum in its second year.

Nintendo estimated profit to reach 225 billion yen ($2.06 billion) from 177.56 billion yen a year prior. If achieved, it would be Nintendo’s highest operating profit since the year ended March 2010.

The outlook compared with the 308.72 billion yen average of 21 analyst estimates in a survey by Thomson Reuters I/B/E/S.

Kyoto-based Nintendo is aiming to sell 20 million Switch consoles in the financial year started April, confirming its previous forecast made in January.

Sales of the hybrid home-portable console reached 15 million units in the year ended March, bringing the cumulative total to 17.8 units since its global release in March least year. ($1 = 109.2900 yen)

Reporting by Makiko Yamazaki and Yoshiyasu Shida Editing by Christopher Cushing

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