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Nintendo shares jump after company doubles profit forecast
October 31, 2017 / 12:26 AM / 25 days ago

Nintendo shares jump after company doubles profit forecast

TOKYO (Reuters) - Shares of Nintendo (7974.T) jumped on Tuesday, a day after the Japanese videogames maker almost doubled its full-year operating profit forecast as supply shortages for its new Switch games console began to ease.

FILE PHOTO: A Nintendo Switch game console is displayed at an electronics store in Tokyo, Japan March 3, 2017. REUTERS/Toru Hanai/File Photo

Sales have exceeded the company’s initial estimate, outstripping those of predecessor Wii U, and leaving suppliers scrambling for parts.

Nintendo shares were up 4.3 percent at 44,720 yen ($395.61) after earlier hitting 45,030 yen, their highest since Oct. 25.

($1 = 113.0400 yen)

Reporting by Lisa Twaronite

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