Nintendo shares fell sharply in Tokyo on Wednesday, following its release of a Q1 earnings report that disappointed analyst expectations. The company reported a drop of 31 percent in net sales and an operating loss of about $48 million, which it attributed to growing strength in the Japanese yen but which likely had more to do with dismal sales of the outgoing Wii U console. The weak results come amid a frenzy over the recently released Pokemon Go augmented reality game, which Nintendo felt obliged to address last week.
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Nintendo’s Q1 Reflects Struggles Unrelated to Pokemon Go Success
Posted by: David Jones July 27, 2016 10:18 AMNintendo shares fell sharply in Tokyo on Wednesday, following its release of a Q1 earnings report that disappointed analyst expectations. The company reported a drop of 31 percent in net sales and an operating loss of about $48 million, which it attributed to growing strength in the Japanese yen but which likely had more to do with dismal sales of the outgoing Wii U console. The weak results come amid a frenzy over the recently released Pokemon Go augmented reality game, which Nintendo felt obliged to address last week.