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Technology

Nintendo reports 428% jump in quarterly profit, smashes estimates

TOKYO, Aug 6 (Reuters) - Japan’s Nintendo Co Ltd on Thursday reported a 428% jump in first-quarter profit, driven by ongoing demand for the Switch console and hit title Animal Crossing: New Horizons as the coronavirus outbreak boosts the games industry.

Operating profit for April-June was 144.7 billion yen ($1.37 billion). That compared with an average estimate of 71 billion yen from 12 analysts polled by Refinitiv SmartEstimate. ($1 = 105.4600 yen) (Reporting by Sam Nussey; Editing by Christopher Cushing and Edmund Blair)

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