Nintendo Shares Drop To 5-Month Low

Posted on by Ryan

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Nintendo have announced there quarterly earnings report and despite bringing in over $500 million in profits, shares in the company have dropped to a 5-month low. Shares for the company dropped 2.3% to 22,625 yen, the lowest since August 2016.

The two biggest factors are due to Nintendo announcing a cut to their full-year profits by a third and due to the disappointing sales of Super Mario Run. While the game had a very high download rate, only 5% of players actually downloaded the full game.

The biggest event coming for the company is the release of the Switch on March 3. The company has noted that they will be sold at a profit on day one.