Nintendo Drops to Five-Month Low as 3DS, Mobile Games Falter
- Super Mario Run, non-Pokemon 3DS games miss company estimates
- Full-year forecast increased on outlook for weaker yen
Why Nintendo Shares Slipped to a Five-Month Low
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Nintendo Co. shares slipped to a five-month low after a cut in the company’s operating profit forecast indicated sales of its upcoming Switch console may not make up for weak demand for mobile games and the 3DS gaming device.
The stock declined 2.1 percent to close at 22,625 yen, the lowest since Aug. 30. The Kyoto-based company cut its full fiscal-year operating profit outlook by a third to 20 billion yen, while keeping its 470 billion yen revenue forecast intact.