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Nintendo profit soars 200 percent on ‘Animal Crossing’ sales

By
Nicolas Vega
Published May 7, 2020, 11:58 a.m. ET

Nintendo on Thursday reported fourth-quarter profit that soared 200 percent as cooped-up gamers have turned to its popular Switch console to pass the time.

The Japanese video game giant said that the recently released “Animal Crossing: New Horizons” moved a staggering 13.4 million units in its first six weeks, becoming the Nintendo Switch’s fastest selling title ever.

Nintendo said it expects to sell 19 million switch consoles in the current financial year. In the year ended March, Nintendo sold 21 million Switch consoles, well above its forecast of 19.5 million.

“Animal Crossing’s impact was bigger than expected but is temporary,” CEO Shuntaro Furukawa said, adding he did not see the company’s forecasts, which include a fall in full year software sales to 140 million units, as conservative.

That breaks down as 14.8 million units of the hybrid home-portable device and 6.2 million units of the handheld-only Switch Lite, which went on sale in September.

The popularity of the device and the coronavirus outbreak’s impact on supply chains has led to Switch shortages around the world, preventing the company from taking full advantage of pent-up demand.

The company said production and shipping are “gradually recovering” following pandemic-induced delays but pointed to the risk of further disruption including to games development.

“It is difficult to expect the same productivity” from employees working at home, Furukawa said, adding delays to game releases are a possibility if the crisis is protracted.

With Post wires