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Nintendo Profit Surge

The Japanese Company that Trades on the Tokyo Stock Exchange 

As a finance guy, I want to talk about it because their profits are soaring +400% which is amazing. I think because of COVID-19 video games are the winners of the stay at the home economy. Especially the Nintendo animal crossing game. 


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Why? 

 People are flocking to video games amid the COVID-19 Pandemic and millions around the world are spending more time inside as they work, learn and socialize from home because of this Video games makes are cashing in. 428% surge in Nintendo’s profits in the April-June quarter as compared to last quarter. 


The Company which is based in Japan made $1.4 billion or 144 billion yen between April and June this year. For the context in the same 3 months of 2019 Nintendo makes 27.4 billion Yen. Their boom came from the march release success animal crossing game. In the games the players can build their own villages and Islands. People love this game and Nintendo sells 22 M copies at $60 per copy. 

 

Video game sales increased by 26% in the US according to research form NPD. 

But it is not the only winner other Publishers like Take-Two Interactive and Activision Blizzard reported impressive earning last week.  

Activision Blizzard jumped 71% form the same time last year and take two raised its sales forecast for the full year for the strong demand for their games for their Grand theft Auto and NBA 2K 

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