October 31, 2017 / 12:24 AM / 4 months ago

Nintendo shares jump after company doubles profit forecast

TOKYO (Reuters) - Shares of Nintendo (7974.T) jumped on Tuesday, a day after the Japanese videogames maker almost doubled its full-year operating profit forecast as supply shortages for its new Switch games console began to ease.

    Sales have exceeded the company’s initial estimate, outstripping those of predecessor Wii U, and leaving suppliers scrambling for parts.

    Nintendo shares were up 4.3 percent at 44,720 yen ($395.61) after earlier hitting 45,030 yen, their highest since Oct. 25.

    ($1 = 113.0400 yen)

    Reporting by Lisa Twaronite

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