Please select the second broker

Author: Alan LittleDate: 2020-08-07

Nintendo (NTDOY) operating profits soar by 428% amid pandemic

Nintendo (NTDOY), Sony (SNE), Take-Two Interactive (TTWO) and Activision Blizzard (ATVI) all got a boost from a spike in video game sales in Q2 this week as the industry benefited from the stay-at-home measures related to the coronavirus pandemic.

Nintendo, which was the last to report, said on Thursday that operating profits had soared 428% to $1.4bn for the three-month period ending 30th June.

This forecast-busting figure was more than 600% higher than the figure from a year earlier.

The Japanese company also posted a 108% rise in net sales as its franchise hit Animal Crossing: New Horizons shifted 22.4m copies worldwide.

Sony also beat the analyst consensus earlier this week despite coming in with a modest 1% decrease in profits.

The media conglomerate said that its PlayStation division had been strong in Q2 and that game sales had surged 82% to 91m units.

Both Nintendo and Sony said that there had been a marked rise in digital downloads year over year.

Platform holders were not the only companies to benefit, as video software enterprises Take-Two Interactive and Activision Blizzard also crushed pre-report expectations.

Take-Two Interactive, which owns Rockstar Games, posted net income of $0.77 per share and $831.m revenue, a jump of 91% and 54% year over year respectively.

Activision Blizzard’s portfolio of games, which includes Call of Duty and Candy Crush Saga, also prospered and helped the company to $0.81 earnings per share and $1.93bn revenue versus the $0.59 per share and $1.7bn expectations.

Analysts advised investors that the games industry is hot right now ahead of the launch of next-generation consoles later this year.

TheStreet’s David Dierking noted: “The global games market is expected to grow around 9% per year through 2022. That includes games played on a traditional console, such as the Microsoft XBox or Sony Playstation, as well as mobile games played on a phone.”

Scam Brokers, Broker Complaints

Are you aware of a scam broker or want to make a broker complaint?

We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.

We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.

We use the information you give us to decide if we want to continue to promote a broker on our site.

Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.