Nintendo hikes profit forecast as Mario movie, Zelda game breathe new life into Switch console

Nintendo reported better-than-expected sales and profit for its fiscal second quarter on Tuesday as it continues to get a bump from the "Super Mario Bros. Movie" and flagship Zelda game released this year.

In the previous quarter, the company got a boost from the success of the "Super Mario Bros. Movie" and the highly anticipated May release of the "The Legend of Zelda: Tears of the Kingdom" game, which drove people to buy the Japanese giant's flagship Switch gaming console. That seems to have continued into the September quarter.

"Sales in the first half of the fiscal year were the largest since the launch of Nintendo Switch," Nintendo said in a statement, citing the increase in sales in its video game business and the depreciation of the Japanese yen. Investors have been concerned that sales of the Nintendo Switch, which is now more than six years old, have peaked. Many have called on the company to release a new console. However, Nintendo's results underscore how its recognizable characters can continue to drive sales for the Switch.

Source: Entertainment Trends (entertainmenttrends.net)

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