Nintendo profits soar as home gaming booms in 2020
Video game giant Nintendo saw its profit almost double in 2020 as the world played games at home during the pandemic.
The Japanese company said its April to December profit surged to 376.6bn yen ($3.6bn) from 196bn yen in 2019.
It reported more than a 10 per cent rise in its Switch games console sales to 26.5 million, while its nine-month sales jumped 37 per cent to $13bn.
Nintendo Switch’s success has come on the back of its popular software including Mario Kart 8 Deluxe and Animal Crossing: New Horizons.
Its President Shuntaro Furukawa pointed to upcoming titles such as Monster Hunter Rise and Super Mario 3D World to boost Switch sales even further.
Serkan Toto, founder of game industry consultancy Kantan Games, said: “In the video gaming business, Nintendo is the clear corona winner.
“Its titles are not only blockbusters but also Switch-exclusive system sellers.”
Nintendo’s full-year profit forecast jumped 24 per cent to 560bn yen, while software sales passed 176 million.
Its shares closed up 3.4 per cent at 62,640 yen, after reaching a 13-year high of 67,600 yen in mid-December.