Shares of Japanese gaming firm Nintendo fell more than 3% on Wednesday morning after the company reported a 10% drop in its quarterly profit.
In Tokyo afternoon trade on Wednesday, Nintendo's stock was trading down 3.03% for the day.
""The quarter was not good for Nintendo but I don't think that it's as bad as the current stock price ... is showing it," Toto said.Serkan TotoCommenting on Nintendo's quarterly performance, Toto said year-over-year sales of the Switch console increased despite the quarter being "almost devoid" of big game releases. That lack of major titles, he added, was "one of the reasons why the numbers were not as good as they ... could've been.
Looking ahead, Nintendo is also set to launch a cheaper version of Switch with fewer features — called the Switch Lite — in September, though no sales forecast was provided for the new device.
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